Podcasts about resources email

Play Episode Listen Later Sep 19, 2023 49:29

In this 201st episode, Eliot Thomas, Esq., hosts, along with Jeff Webb, CPA, Vice-President of Professional Services at Anderson Business Advisors. The looming filing deadlines in September and October are almost here, but we've still got our experts online to help answer your questions. In this episode, you'll hear answers to questions about HELOCs, when to take social security, the Augusta rule, bad debt, and legacy planning tools, to name a few. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: “What's the best structure for a management company? C-corporation or partnership? Also, if you were not concerned with obtaining loans, is it more advantageous to have a holding company as an S-corp or a partnership?” – My rec is C Corp, not partnership, the downside is creating passive deductions and income at the same time…and anytime you take those properties back out, and sometimes you have to do that to refinance, that's a taxable transaction. “I have a HELOC on a rental property. I used the funds from it as a gift for a down payment on a home purchase for a family member. Can I use the HELOC interest payments as part of an expense for the rental property?” - You shouldn't be gifting money from your HELOC. Can you take money out? Yes, but it's a distribution; it's not a gift. “I'm getting ready to retire in three years. I own a small business that's a sole proprietorship. As a single proprietor, when I receive social security, will this show up as personal income?” - What you don't want to do is start taking social security before your full retirement age while still earning money from a wage or from self-employment. “Can you use the administrative office and Augusta rule deduction? Or is that considered double dipping when purchasing a property? - commonly referred to as 280A. That's the corporate meetings. You can rent your house out for 14 days a calendar year—no more—and the income that you receive is tax-free. How does bonus depreciation affect a present tax bill for back taxes owed to the IRS? So if we took bonus depreciation in the current year without [...] with the prior liability I have with the IRS.” - IRS will keep taking your refunds before they ever touch your bank accounts until they have that back liability paid up. “We made a $5000 business loan. The business shut their doors. How do we document this bad debt? Is it bad debt loss or is it a tax write-off?” - Yes, it is a write-off, but the question is, how do you write off… “Is a charitable remainder trust a good legacy and tax planning tool?” - I like the CRUT (Charitable Remainder Unitrust). It's considered a split-interest trust. The tax returns are very complicated. Don't ever, ever, ever try to prepare one yourself. “I bought a house last year with the intention of renting it out. I bought rental property insurance and never lived in it. It was so expensive to repair everything that I sold it before I could rent it. Can I still deduct my expenses on my taxes? I read that there has to be income to be deductible, and I didn't get it to a space where it was rentable. Please help. I wasted a lot of money on this house.” –Your intention was to rent. The more you can have to substantiate that intention, the better off you are…But yes, you would write it off as a capital gain or loss… “Could you please explain what basis is? I recently became an S-corporation after 12 years as a sole prop. I can take out tax-free my equity injection of money I put in to start the new S-corp, and the inventory that I basically carried over from my sole prop days into the new S-corp. We have no debt on the S-corp, other than the inventory and cash injection. It owes me back.” - Basis typically is your cost…it could be your entity, it could be a property, it could be any kind of asset. “Can an LLC taxed as a partnership write off travel and other expenses to intend to invest in seminars such as Alpine CFS, where one would look at several properties, perhaps commit to purchase? - Basically the code says you cannot deduct the expense of any education that is helping you to do something new, that you didn't do previously. Check out our events coming up later this month. Resources: Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/?utm_source=aba&utm_medium=podcast&utm_content=the-right-structure-for-a-management-company Anderson Advisors https://andersonadvisors.com/ Toby Mathis YouTube https://www.youtube.com/@TobyMathis

vice president llc irs cpa basis esq professional services heloc business structure management company c corp helocs resources email jeff webb anderson business advisors

Building A Strong Financial Partnership

financial partnership resources email

Play Episode Listen Later Aug 8, 2023 18:38

Are financial disagreements putting a strain on your relationship? In today's episode, we'll share how your upbringing and money management approach might be playing a role in this tension. We'll talk about the profound impact of your early experiences on your current financial perspectives while discussing ways to overcome financial differences in your relationship. Join us today as we discuss these things: 1:00 – Why money is the number one source of tension between couples + taking a look at your financial script 7:58 – Understanding your money history and how this has shaped your idea of finances 11:48 – Getting on the same page as a couple, building financial trust, and aligning your goals RESOURCES Email: travis@travisparry.com YouTube: https://www.youtube.com/channel/UC46ekvB-U-CJDdsd7aqJMuA Get Travis' newest book!

Ep 149. 8 Truth Bombs That Will Change Your Photography Business

The Purpose Gathering Podcast

Play Episode Listen Later Jul 26, 2023 39:20

Do you ever wish that you could go back in time and tell your younger self some incredible insight, some tips, or some secrets? I do, too. I so wish that I could go back in time to when I was newly starting my business and to when I was newly starting to own my role as the CEO, and I really wish that I would have known these truth bombs that I'm about to share with you today. Because I truly believe that some of these principles I'm about to share with you could have saved me so many years of heartache. I truly hope that this would do the same for you and that I would be able to share some of my insights and tips, and that I would be able to help you along your journey as a photographer. So, in this episode, you'll hear 8 Truth Bombs That Will Change Your Photography Business! For the full show notes for this episode, head to thepurposegathering.com/8truthbombs Resources: Email me at info@thepurposegathering.com to book a free 1:1 call, or to let me know your biggest takeaway from today's episode. It makes my day when I hear from you!! Reset Your Mindset by Natalie Eckdahl Need support managing your time well and creating systems to streamline your Photography Business? Join the Efficient Mom Photographer (12 Week Group Coaching Program Want to get make sure your photography business is on the right track? Take the Free Passion to Profit Challenge Local to Gilbert/Mesa Arizona (For Mom Business Owners) Join our in person membership community Looking for tips and strategies for making motherhood and business easier? Join Our Free Community - The Organized Mom Photographer Have a question for me? Or a specific struggle you're dealing with? I'll address your question on the podcast. Submit your ‘Ask Ashley' question here

ceo truth bombs photography business resources email

Is Personal Development The Key To Balance?

balance personal development hierarchy abraham maslow resources email

Play Episode Listen Later Jul 25, 2023 13:57

Is personal development really the key to achieving balanced growth and helping those struggling with workaholism? It turns out that the popular Hierarchy of Needs by Abraham Maslow might not be as accurate as once believed. Today, we'll be discussing a revised version of this study that puts parenting and relationships at the pinnacle of motivation. Don't miss out on this eye-opening episode that will challenge your perception of personal development and show you why it is NOT the end all, be all...it's just the beginning. Join us today as we discuss these things: 2:41 – The Revised Maslow's Hierarchy of Needs study that puts parenting and marriage as the highest motivators in life instead of self-actualization 6:07 – Having support systems and family goals in place to break free from the workaholic trap 8:58 – Supporting your spouse + being on the same page about goals and values RESOURCES Email: travis@travisparry.com YouTube: https://www.youtube.com/channel/UC46ekvB-U-CJDdsd7aqJMuA Get Travis' newest book!

Here's How to Reduce Taxes When Investing

Play Episode Listen Later Jun 27, 2023 57:03

Welcome to another episode (#197!) of the Anderson Advisors Tax Tuesday show. Host Toby Mathis, Esq., joins our regular guest Eliot Thomas, Esq., Manager of Tax Advisors at Anderson Business Advisors, to help answer your questions. On today's episode, Eliot and Toby answer listener inquiries including the requirements and tax implications for selling your home to a relative in installments, how to minimize taxes on profits from crypto-trading, and the pros and cons to investing in stocks within a Roth or Regular IRA/401K. If you have a tax-related question for us, submit it to taxtuesday@andersonadvisors. Highlights/Topics: "Is there a tax ramification of selling my personal home to my daughter via an installment sale? I have lived in the home for more than two years as a primary residence. Will I be able to still use their section 121 exclusion, even though I'm selling to a related party?" – You can sell to your daughter and still be eligible, provided we meet all the other boxes…You can sell to a related party, but you have to recognize all the gain up front. "I'm considering taking a small salary from my stock trading business. It's a dual LLC Partnership, which means a C-corp and a partnership through Anderson later this year if the C-corp ends up with taxable income. What are the tradeoffs of deferring that into a 401(k), both positives and negatives like income, payroll taxes, and benefit of paying those for Social Security calculation, et cetera?" - As Toby always says, this is a calculate, calculate, calculate moment. If you take it out as salary, then one consideration—there are a lot of different variables here—is your personal tax rate below 21%? "For our C-corp, we're aware that cleaning services of our personal residence can be deducted from our corporate taxes." It can? Well get into that. "Would the total expense of cleaning be a write-off or would only a portion of the total expense be a write-off since the entire house is not used for business? Would lawn services be treated the same way?" – if you are using part of it as a home office deduction or administrative office reimbursement deduction, either way, you can throw in an element for the cleaning… "When starting my Infinity Investing journey, should I start purchasing stocks inside of a type of retirement tax-deferred account of some sort, or should it be outside of that in order to use it for leverage or some real estate investing later?" - Here's the easy rule. If you're in a higher tax bracket than you will be when you retire, defer it. If you are in a lower tax bracket now than you will be when you retire, then put it in a Roth. "I have been learning and experimenting with earning dollars through crypto trading. Can you please tell me how to minimize taxes with profits earned through crypto platforms?" – we do the same trading partnership that we talked about earlier. Set up a partnership, put the account into that partnership. "My California CPA said that regardless of what type of entity I put my California rental property in, California will still want to get the $800 franchise tax board fee." The Board of Equalization fee. That's the minimum fee they charge. "Would that be true even with a Wyoming Statutory Trust?" - Chief Counsel's Office has already said it's treated as a business trust, and it's not taxable. It's not subject to the $800 a year, period, full stop. "Does a cash out refi adjust my basis and multifamily apartments? If not, how can we step up in basis before I sell if I have a lot of equity and depreciation already taken?" - Generally speaking, a refi, all you've done is you've changed your equity in your house into cash. You're just changing asset to asset. That doesn't change your depreciable basis in that property. "How does the Corporate Transparency Act impact the timing of real estate investment decisions from a tax efficiency perspective?" - It doesn't have any impact on your taxes whatsoever. This has nothing to do with taxes at all. I just wanted to get cleared out there for those who are listening. "In creating a living trust, is it necessary to pay capital gains tax on real estate assets as they are transferred into the trust?" - This is really simple too. There's no taxable transaction moving assets into a living trust. It's a revocable grantor trust. You haven't done anything in the way of taxes. "I have carried a $600,000 loss since 2011. I am a real estate professional with an S-corp. Is there an alternate way to use that? I can't live long enough at the $20,000–$25,000 max deduction." - You need passive income. You need lots of passive income to wipe out that passive loss. You want to recognize that passive income. You probably don't want to be a real estate professional. Resources: Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/ Anderson Advisors https://andersonadvisors.com/ Anderson Advisors YouTube http://aba.link/youtube Toby Mathis YouTube https://www.youtube.com/@TobyMathis Toby Mathis TikTok https://www.tiktok.com/@tobymathisesq

california office board investing generally roth social security esq eliot chief counsel equalization reduce taxes resources email anderson business advisors tax advisors

The Role of Spousal Support in Balanced Growth

Play Episode Listen Later Jun 6, 2023 21:03

Maintaining balance while growing a business is crucial, and the support of a spouse plays a vital role in this process. In this episode, Travis talks about how support can come in different forms, whether it's actively participating in the business or being a supportive presence at home. Discover how sharing goals, values, and challenges with his spouse helped foster a more transparent and intimate relationship as Travis embarked on his business growth journey. Join us today as we discuss these things: 0:59 – The impact of a supportive spouse 7:39 – Transparency between you and your spouse 12:12 – The importance of family support in achieving balance 13:55 – Going through goals and values with your spouse 16:57 – Talking through goals and schedules as a family RESOURCES Email: travis@travisparry.com YouTube: https://www.youtube.com/channel/UC46ekvB-U-CJDdsd7aqJMuA Get Travis' newest book!

discover maintaining transparency spousal support resources email balanced growth

How To Properly Structure Your E-commerce Business

Play Episode Listen Later May 2, 2023 81:07

Welcome to another episode of the Tax Tuesday show. Host Toby Mathis, Esq., joins our regular guest Eliot Thomas, Esq., Manager of Tax Advisors at Anderson Business Advisors, to help answer your questions. On today's episode, Eliot and Toby answer listener inquiries, including a mother and son who want to set up an e-business together, a question about filing an extension for your taxes, which is almost always a good idea, and a question about writing off a pool that is required for a medical condition, (which is a surprisingly common question!) If you have a tax-related question for us, submit it to taxtuesday@andersonadvisors. Highlights/Topics: I had to put more money into my LP for stock options trading- what is the easiest way to handle this addition to my LP? - You can put cash in, or capital contribution - there are no tax implications putting money in, or taking money out. Is it a good practice to file an extension? Yes it is - if you rush, you may have to do an amendment…it gives you time to breathe. I don't know any instance when it is a bad idea. If I plan to leave investment property to my children, is it better to purchase and leave it to them in trust, or put their names on title? - They may have stepped up basis issues later on. I don't recommend gifting things when you are still alive. If the kid is on the title, the child could have liability issues, and you lose the step up in basis. No activity in LLC for 2022- Do I need to file tax forms? - if its a partnership and absolutely no transactions, file a ‘no activity' return. S-corps and C-Corps must file. What is bonus depreciation on residential property? Is there a disadvantage for carrying forward a large loss? - Bonus depreciation is just the ‘speeding up' of straight-line depreciation. No real issues with carrying the loss forward…but it depends on your income. What is the best tax structure to set up eBusiness, for a co-owner son and mom - S or C Corp have better tax options than a partnership? Is mom materially participating? Pool installation for minor son, is it possible to do a tax deduction? - if it is for medical reasons, it is a possibility. You must document that this is the only option. 1099 income, how much to contribute to solo IRA/401K? Employee and employer contributions? – There is a calculation, and a maximum of 66K in 2023, yes, you can- but I wouldn't. Talk to your tax professional Federal tax rate for capturing depreciation on property from a previous 1031? - if its 1250 real estate, or 1245, in order to figure this out you have to do a cost seg. My AGI is 300K, I gifted to charity 90K – and thought I could also gift 90K in non-cash. Tax preparer said non-cash giving. - There is a 60% limit for cash donations. Non-cash has different limitations, depending on the non-profit. My only source of income is from 4X trading, 5K trades a year, 10 hours a day, what are the benefits in creating an entity to pay less taxes? I'm borrowing 15-30K, usually paying interest of 2K a month. - You want to have a note, and records of the interest. A C-corp would allow for some deductions and reimbursements, and be able to write off expenses. Resources: Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/ Anderson Advisors https://andersonadvisors.com/ Anderson Advisors YouTube http://aba.link/youtube Toby Mathis YouTube https://www.youtube.com/@TobyMathis Toby Mathis TikTok https://www.tiktok.com/@tobymathisesq

talk llc employees structure pool tax lp properly 5k esq eliot 2k 300k 30k ecommerce business 4x c corp ebusiness 90k resources email anderson business advisors tax advisors 66k

The Most Important Step Before Buying A Business

Play Episode Listen Later Apr 18, 2023 58:49

Welcome to another episode of the Tax Tuesday show. Host Toby Mathis, Esq., joins our regular guest Eliot Thomas, Esq., Manager of Tax Advisors at Anderson Business Advisors, to help answer your questions. Even though it's tax season, we have nine Anderson staffers on board to answer your questions On today's episode, Eliot and Toby answer listener questions including inquiries about purchasing a bar/restaurant and all the aspects you need to take into consideration around this difficult industry, a few questions (as usual) around rental properties and when/if you can take deductions and write off losses, and an interesting code question about oil and gas and intangible drilling costs (IDC). If you have a tax-related question for us, submit it to taxtuesday@andersonadvisors. Highlights/Topics: If you have a corporation with your children as board members, can you write off vehicle, maintenance, and gas? - If they are not employees, they are eligible for “reimbursements” not written off as business expense. Spouse and I are filing joint 2022 return, she had a $6000 W2, can I make a $3000 contribution, or must it be made to her IRA because it's her W2? - If you made less than the $13K deduction, no taxes are owed. If you contribute to a Roth, no taxes…. Can you discuss Tax benefits of retirement funds to fund/start/loan my business? - buy shares of a C Corp with your retirement fund. Tax effects of intangible costs for oil and gas? - IDCs can give you a 100% deduction in certain cases Paid kids $12K for my rental business, should I issue a 1099? If its disregarded or a partnership, kids under 17 can be issued a W2, if under age 18 no taxes due. Bought a house in 2022 with plans to rent, still working on repairs, do I get tax benefits for this project? - No, it has to be placed into service to be eligible for losses/expenses… How do I do cost seg if I purchased and rented out in 2022? Accelerated depreciation? - Cost seg is all about depreciation, yes you can do it to take advantage. Once cost seg is done, extend until Oct 15. I purchased Airbnb 2022, and put into use same day, purchased furniture/renovated, my accountant says I have a loss and am unable to do bonus depreciation? – There are other factors, but did you materially participate? If so, yes that is ordinary loss. When should I file as S-Corp instead of disregarded entity? not single entity…. - Don't put real estate rentals in a corporation, when you take it out it's taxable… Is there an AGI limit for claiming passive losses on a return? - If you have rental activity, under $100K, you can write off $25K. Can they be carried forward? How to claim next year? - Yes, passive losses can be carried forward as “suspended”. I'm considering purchasing a bar/restaurant in FL, already established but not doing well, what should I consider before doing this purchase? - Are you buying the assets, or the entity that owns the bar - if the entity, you may inherit any legal issues and no depreciation. If you buy assets, you can depreciate assets at the price you paid. Resources: Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/ Anderson Advisors https://andersonadvisors.com/ Anderson Advisors YouTube http://aba.link/youtube Toby Mathis YouTube https://www.youtube.com/@TobyMathis Toby Mathis TikTok https://www.tiktok.com/@tobymathisesq

cost airbnb spouse tax bought roth esq eliot accelerated w2 agi 25k idc s corp c corp buying a business 13k resources email anderson business advisors tax advisors

Ep. 1520 Liberal Media HYSTERICAL over ‘Far-Right' TAKEOVER of MMA!!!

Play Episode Listen Later Apr 3, 2023 10:52

Highlights: ● “There is widespread panic all over the legacy media that Mixed Martial Arts has become inundated with radical right forces. And this goes way beyond the UFC's president Dana White's open support of President Trump. Even some of the more notable MMA training gyms have actually become sites for openly pro-Trump, pro-America First rallies.” ● “While boxing used to be the default sport of the populist, its professional evolution into pay-per-view glitz and glamor has largely removed boxing from its populist origins. And I think this is one of the reasons that MMA, Mixed Martial Arts, has become even more popular than boxing.” ● “There's no reason to try to find a bunch of far-right boogeymen behind MMA's nationalist-populist appeal. The very nature and culture of the sports lend opened itself up to the masses, and they're responding, and to the shocking fright of our ruling elite, they are all rising up!” Timestamps: [01:12] On MMA superstar Holley Holm calling on the sexualization of children and Conor MacGregor advocating armed guards at every school [04:36] How the legacy media is panicking over MMA being overrun by what they call the far-right [07:39] Why patriots around the world have truly found MMA to be their new sports home Resources: ● Email me at steve@turleytalks.com or comment below what you'd like to see in my new guidebook about Escaping the Great Reset! ● Ep. 1519 EU PANICS as Nationalist Right TAKES OVER Finland!!! ● Go to https://www.hometitlelock.com/turleytalks -- and use promo code: TURLEYTALKS. Then enter your address for your no-obligation home title scan to see if you're already a victim. That's a $100 value -- FREE ● Achieve your weight loss goals with Dr. Steve and Dr. Lucas TODAY at https://event.webinarjam.com/register/110/plno8s30 ● Get Over 66% OFF All of Mike Lindell's Products using code TURLEY: https://www.mypillow.com/turley ● Learn how to protect your life savings from inflation and an irresponsible government, with Gold and Silver. Go to http://www.turleytalkslikesgold.com/ ● Try Liver Health Formula by going to GetLiverHelp.com/Turley and claim your 5 FREE bonus gifts. That's https://GetLiverHelp.com/Turley ● Join Dr. Steve for an unedited, uncensored extended analysis of current events in his Insiders Club at https://insidersclub.turleytalks.com/ ● BOLDLY stand up for TRUTH in Turley Merch! Browse our new designs right now at: https://store.turleytalks.com/ ● Make sure to FOLLOW me on Twitter: https://twitter.com/DrTurleyTalks ● Get 25% off Patriotic Coffee and ALL ITEMS with Code TURLEY at https://mystore.com/turley Thank you for taking the time to listen to this episode. If you enjoyed this episode, please subscribe and/or leave a review. Sick and tired of Big Tech, censorship, and endless propaganda? Join my Insiders Club with a FREE TRIAL today at: https://insidersclub.turleytalks.com Do you want to be a part of the podcast and be our sponsor? Click here to partner with us and defy liberal culture! If you would like to get lots of articles on conservative trends make sure to sign-up for the 'New Conservative Age Rising' Email Alerts.

Ep 107: The Power of Organization and Delegation with Tom Watts

Play Episode Listen Later Mar 30, 2023 26:07

Today we are joined by Tom Watts, who started his career on the institutional side of Wall Street as an investment banker and sell-side stock analyst. In 2009, Tom founded Watts Capital Partners LLC, a wealth management firm in New York, which has since merged with WealthEdge, where he is now the director of investments. In this episode, Tom talks about what having a balanced life means to him. He shares how organization and delegation have played a large part in finding a healthier work-life balance while allowing him to cultivate deeper relationships inside and outside of work. Stay tuned for insightful tips on how to implement structure and balance in your own business. Join us today as we discuss these things: 1:22 – Why Tom started his career on Wall Street and how this led him to start his own firm. 3:55 – What having a balanced life means to Tom. 6:22 – How organization and delegation have played a role in promoting balance at Watts Capitol. 14:40 – The impact scheduling and time-blocking have made in Tom's daily routine. 23:17 – How optimizing operations allows you to focus on cultivating meaningful relationships with your clients. RESOURCES Email: travis@travisparry.com YouTube: https://www.youtube.com/channel/UC46ekvB-U-CJDdsd7aqJMuA Get Travis' newest book!

new york wall street delegation resources email tom watts

Ep. 1508 Trans Athletes BANNED from World Athletics Competition!!!

truth gold competition sick products silver trans athletes banned escaping big tech athletics great reset boldly mike lindell turley get over protect your home resources email

Play Episode Listen Later Mar 29, 2023 10:22

Highlights: ● “The World Athletics Council, the governing body for international track and field competitions, has just announced that they have officially barred all transgender athletes from competing in women's sports competition.” ● “The poll found that 55% of those surveyed opposed transgender athletes competing in high school female athletics, .and 58% opposed transgender athletes competing in college female sports. Only 28% supported transgenders competing in college female athletics. And this is why we're seeing red states banning trans athletes all over the place.” ● “Gay rights is generally seen, for right or for wrong, as libertarian in nature, whereas transgender rights are increasingly seen as totalitarian and authoritarian.” ● “They now want you, the female athlete to step aside, regardless of all the hard work and sacrifice that you put into this, they want you to step aside and allow athletes that are physically in completely other leagues to take your place! That's a very, very tough sell! And obviously, it's not working.” Timestamps: [01:18] The World Athletics Council banning all transgender athletes from competing in women's sports competition [03:47] How athletes reacted to the decision and how voters feel about transgender athletes [06:40] Why trans activism is indeed coming to an end Resources: ● Email me at steve@turleytalks.com or comment below on what you'd like to see in my new guidebook about Escaping the Great Reset! ● Learn how to protect your life savings from inflation and an irresponsible government, with Gold and Silver. Go to http://www.turleytalkslikesgold.com/ ● Ep. 1507 Desperate WOKE Media BLAME Daily Wire for Nashville Shooting!!! ● Stop handing over your personal data to Big Tech! Visit https://www.expressvpn.com/turleytalks to get three extra months free! ● Protect YOUR HOME from Title Theft TODAY: https://www.hometitlelock.com/turleytalks ● Get Over 66% OFF All of Mike Lindell's Products using code TURLEY: https://www.mypillow.com/turley ● Join Dr. Steve for an unedited, uncensored extended analysis of current events in his Insiders Club at https://insidersclub.turleytalks.com/ ● BOLDLY stand up for TRUTH in Turley Merch! Browse our new designs right now at: https://store.turleytalks.com/ ● Make sure to FOLLOW me on Twitter: https://twitter.com/DrTurleyTalks ● Get 25% off Patriotic Coffee and ALL ITEMS with Code TURLEY at https://mystore.com/turley Thank you for taking the time to listen to this episode. If you enjoyed this episode, please subscribe and/or leave a review. Sick and tired of Big Tech, censorship, and endless propaganda? Join my Insiders Club with a FREE TRIAL today at: https://insidersclub.turleytalks.com Do you want to be a part of the podcast and be our sponsor? Click here to partner with us and defy liberal culture! If you would like to get lots of articles on conservative trends make sure to sign-up for the 'New Conservative Age Rising' Email Alerts.

Ep. 1501 Woke Libs FREAK OUT as Uganda BANS LGBT!!!

Play Episode Listen Later Mar 24, 2023 11:54

Highlights: ● “More than 30 African countries, including Uganda, already ban same-sex relations but this bill takes things to another level, and clearly seems aimed at expelling what is seen as Western liberal values from their nation.” ● “What we have to come to terms with is that the backlash against LGBT identity politics is a very real one and it's happening all over and this is key, it's even happening within the Democratic Party!” ● “Whether anyone likes it or not, LGBT identity politics doesn't particularly fit in a renewed traditionalist highly religious age like the one we're entering.” ● “They can virtue signal, they can grand stand, they can make all the threats they want, but all it's doing is driving the member nations of that traditionalist world closer together. A new conservative age is here, unfortunately, our woke liberal leaders will be the last to recognize it!” Timestamps: [01:09] The anti-LGBT law that was just passed in Uganda [03:07] How the Biden administration is reacting to it [07:46] The massive backlash against LGBT identity politics around the world Resources: ● Email me at steve@turleytalks.com or comment below on what you'd like to see in my new guidebook about Escaping the Great Reset! ● Ep. 1500 Massive WIN For Kari Lake! This Is HUGE!!! ● Try Liver Health Formula by going to GetLiverHelp.com/Turley and claim your 5 FREE bonus gifts. That's https://GetLiverHelp.com/Turley ● Find out how you can pay off your mortgage in 5-7 years with Replace Your Mortgage at https://replaceyouruniversity.com/steveturley ● Get Over 66% OFF All of Mike Lindell's Products using code TURLEY: https://www.mypillow.com/turley ● Learn how to protect your life savings from inflation and an irresponsible government, with Gold and Silver. Go to http://www.turleytalkslikesgold.com/ ● Join Dr. Steve for an unedited, uncensored extended analysis of current events in his Insiders Club at https://insidersclub.turleytalks.com/ ● BOLDLY stand up for TRUTH in Turley Merch! Browse our new designs right now at: https://store.turleytalks.com/ ● Make sure to FOLLOW me on Twitter: https://twitter.com/DrTurleyTalks ● Get 25% off Patriotic Coffee and ALL ITEMS with Code TURLEY at https://mystore.com/turley Thank you for taking the time to listen to this episode. If you enjoyed this episode, please subscribe and/or leave a review. Sick and tired of Big Tech, censorship, and endless propaganda? Join my Insiders Club with a FREE TRIAL today at: https://insidersclub.turleytalks.com Do you want to be a part of the podcast and be our sponsor? Click here to partner with us and defy liberal culture! If you would like to get lots of articles on conservative trends make sure to sign-up for the 'New Conservative Age Rising' Email Alerts.

Ep 105: Building a Business with Values with Joshua Wilson

Play Episode Listen Later Mar 23, 2023 40:06

On today's episode we are joined by Joshua Wilson, the founder and president of United Ethos Wealth Partners, a new tech-driven RIA that works to support independent-minded advisors. Joshua is a PhD candidate, an adjunct professor at Baylor University and has been recognized by Forbes as one of the top wealth advisors in America. This episode originally aired on live on YouTube, but we are excited to share Joshua's story with you today. Growing up on a farm in one of the poorest counties in rural Alabama, Joshua was instilled with the value of hard work as a young man. His impressive grades in school landed him a spot at Brown University, where he fell in love with public speaking. After college, he discovered his interest in business and started training programs to understand the RIA world. During our conversation today Joshua shares how his upbringing has shaped the way he thinks about working with teams and families. He also reflects on the power of working hard and explains how focusing on faith and family values has contributed to his achievements in his career. Join us today as we discuss these things: How Joshua upbringing, family values and love for football have shaped his life and success. (1:34) How values continue to play a strong role in Joshua's life today. (9:05) The “secret sauce” that has helped Joshua juggle his priorities while growing his business. (12:20) “I can be good at just about anything if I put in enough reps.” Joshua discusses the benefit of growing your business one step at a time. (20:50) The “united ethos” that has helped Joshua's business grow by prioritizing clients and advisors and encouraging a balanced lifestyle. (28:02) Watch the full livestream on our YouTube channel: https://www.youtube.com/live/mUIzis9YFqE?feature=share RESOURCES Email: travis@travisparry.com YouTube: https://www.youtube.com/channel/UC46ekvB-U-CJDdsd7aqJMuA Get Travis' newest book!

america phd alabama forbes values brown university building a business baylor university ria resources email joshua wilson

Ep. 1496 Trump Support SURGING as DeSantis IMPLODES!!!

Play Episode Listen Later Mar 22, 2023 9:19

Highlights: ● “According to the latest Monmouth poll, President Trump has surged to a 14-point lead over Ron DeSantis, which represents an 8-point increase from February.” ● “We're seeing the same thing with the latest Morning Consult poll, where Trump is leading DeSantis now by an astounding 20 points, up from 11 in January. Even in DeSantis' own state of Florida, Trump is leading the pack.” ● “8 in 10 likely voters believe that we have a compromised justice system that operates by double standards. So, in launching what will appear as an obvious weaponization of the law to most people, the Democrats risk converting a number of those 80% over to Trump's cause.” ● “DeSantis is making these utterly politically disastrous comments about Trump assuming that Trump is going down in all of this, so he's trying to position himself as the post-Trump front-runner right away! But all he's successfully doing is making himself look like just another establishment RINO.” Timestamps: [01:11] On the latest polls that have Trump leading even in Florida [02:08] What's behind the massive swing to Trump in the polls [05:50] What DeSantis is doing wrong in all of this Resources: ● Email me at steve@turleytalks.com or comment below on what you'd like to see in my new guidebook about Escaping the Great Reset! ● Ep. 1495 The Nationalist Right Is TAKING OVER Austria!!! ● See how much your small business can get back from Big Gov (up to $26k per employee!) at https://ercspecialists.com/initial-survey?fpr=turley ● Learn how to protect your life savings from inflation and an irresponsible government, with Gold and Silver. Go to http://www.turleytalkslikesgold.com/ ● Get Over 66% OFF All of Mike Lindell's Products using code TURLEY: https://www.mypillow.com/turley ● Join Dr. Steve and Troy Noonan for a Deep Dive Workshop on becoming Financially Free in the midst of economic uncertainty on March 23rd, 2023 at https://www.backpacktrader.net/Event ● Join Dr. Steve for an unedited, uncensored extended analysis of current events in his Insiders Club at https://insidersclub.turleytalks.com/ ● BOLDLY stand up for TRUTH in Turley Merch! Browse our new designs right now at: https://store.turleytalks.com/ ● Make sure to FOLLOW me on Twitter: https://twitter.com/DrTurleyTalks ● Get 25% off Patriotic Coffee and ALL ITEMS with Code TURLEY at https://mystore.com/turley Thank you for taking the time to listen to this episode. If you enjoyed this episode, please subscribe and/or leave a review. Sick and tired of Big Tech, censorship, and endless propaganda? Join my Insiders Club with a FREE TRIAL today at: https://insidersclub.turleytalks.com Do you want to be a part of the podcast and be our sponsor? Click here to partner with us and defy liberal culture! If you would like to get lots of articles on conservative trends make sure to sign-up for the 'New Conservative Age Rising' Email Alerts.

Ep. 1494 Yes, Trump's Arrest WILL Help Him WIN in a LANDSLIDE!!!

Play Episode Listen Later Mar 22, 2023 11:12

Highlights: ● “This notion that Musk's claim that Trump's arrest will result in a landslide victory is similar to the predictions made about how the Mar-a-Lago raid would lead to a red tsunami in the midterms, that's a highly dubious comparison. And that's because there's a categorical difference between voting for a person and voting for a party.” ● “What black-pillers don't seem to realize is that few beyond the most rabid partisans will believe that this is a legitimate case against Trump. No one is going to buy this. They're going to see this as a blatant example of weaponized legalism.” ● “It's not a coincidence that Trump saw his highest approval rating the very same months he was impeached! The Mar-a-Lago raid gave Trump a 10-point boost over DeSantis.” ● “This Soros-backed DA, this radical Democrat Alvin Bragg, is so desperate to bring charges against Trump, and there's so little there, that he's been reduced to charging Trump with nothing more, in the end, than an alleged sex scandal. That's it! Now, remind me here, the last I looked, sex scandals don't necessarily hurt a president, just ask Bill Clinton.” Timestamps: [01:09] Argument #1 on why Trump's arrest will not help him win [04:40] Argument #2 on why Trump's arrest will not help him win [07:25] The reason why Trump's arrest will help him win in a landslide Resources: ● Email me at steve@turleytalks.com or comment below on what you'd like to see in my new guidebook about Escaping the Great Reset! ● Learn how to protect your life savings from inflation and an irresponsible government, with Gold and Silver. Go to http://www.turleytalkslikesgold.com/ ● Ep. 1493 This Guy Just ENDED Her Career ● Get Over 66% OFF All of Mike Lindell's Products using code TURLEY: https://www.mypillow.com/turley ● Be sure to use my promo code TURLEYTALKS for your FREE TITLE scan at HomeTitleLock.com/TURLEYTALKS promo code TURLEYTALKS ● Join Dr. Steve and Troy Noonan for a Deep Dive Workshop on becoming Financially Free in the midst of economic uncertainty on March 23rd, 2023 at https://www.backpacktrader.net/Event ● See how much your small business can get back from Big Gov (up to $26k per employee!) at https://ercspecialists.com/initial-survey?fpr=turley ● Join Dr. Steve for an unedited, uncensored extended analysis of current events in his Insiders Club at https://insidersclub.turleytalks.com/ ● BOLDLY stand up for TRUTH in Turley Merch! Browse our new designs right now at: https://store.turleytalks.com/ ● Make sure to FOLLOW me on Twitter: https://twitter.com/DrTurleyTalks ● Get 25% off Patriotic Coffee and ALL ITEMS with Code TURLEY at https://mystore.com/turley Thank you for taking the time to listen to this episode. If you enjoyed this episode, please subscribe and/or leave a review. Sick and tired of Big Tech, censorship, and endless propaganda? Join my Insiders Club with a FREE TRIAL today at: https://insidersclub.turleytalks.com Do you want to be a part of the podcast and be our sponsor? Click here to partner with us and defy liberal culture! If you would like to get lots of articles on conservative trends make sure to sign-up for the 'New Conservative Age Rising' Email Alerts.

A Heart That Understands! - Featuring Award Winning Author ILuta Sutra and a 4-Legged Angel Named Gigy

amazon trust books dna animals named barnes noble understands award winning author legged sutra resources email

Play Episode Play 60 sec Highlight Listen Later Mar 17, 2023 26:36

Brief Episode Summary:For years I had an estranged relationship with my mother.As to why that was, is not nearly as important as the sourceof my and her eventual healings and how I wish she werestill with me so that I would be able to share it with her inthe flesh. I am so grateful to her that a deep love for theDivine's 4-legged angels that coursed through her veins, alsodefines my DNA and the best version of me! Thank you,mom. I'm so blessed to be your son! I love you!#SavingGigy #trust #angels #trusting #animalsanctuary #trusting #adoptions #moment #present #happiness #heartKey Topics:When things don't go as we planned or as we think they should, if we allow it, what role can faith play?Trust is central to a healthy relationship, as is forgiveness! Animals can and will teach us much about ourself. What did Gigy teach Author ILuta about herself?What can our 4-legged angels teach us about genuine happiness and the importance of living in the present?How healing can a love letter be, whether we ever see its intended recipient again, or not?What's the moral of this emotional roller coaster? Is life fair?Resources: Email link to episode...https://www.buzzsprout.com/859273/12455414Connect with ILuta and buy her book "Saving Gigy" from Amazon, Barnes & Noble, Books a Million, Books and Books and on her website at https://sutrawritings.com/Connect with ILuta on her Facebook page at https://www.facebook.com/SutraWritings/Connect with ILuta at Twitter at https://twitter.com/SutraWritingsConnect with ILuta at LinkedIn at https://www.linkedin.com/company/sutrawritings/ Connect with ILuta on Instagram at https://www.instagram.com/sutrawritings/ Alan Freedman's link to register to receive new podcasts and other updates:Link to podcast website and all the podcast episodes https://discoveringandlivingthebestversionofyou.buzzsprout.comLink with Alan's Facebook Business Page at facebook.com/interviewswithheart/Link with Alan's Instagram page at https://www.instagram.com/alanfreedman26/Support the show (https://www.paypal.com/biz/fund?id=NYYG9FE928BF6)No one person or entity has contributed Support the show Link to podcast website and all the podcast episodes https://discoveringandlivingthebestversionofyou.buzzsprout.com Link with Alan's Facebook Business Page at facebook.com/interviewswithheart/ Link with Alan's Instagram page at https://www.instagram.com/alanfreedman26/ Support the show (https://www.paypal.com/biz/fund?id=NYYG9FE928BF6) No one person or entity has contributed more to the growth and development of this podcast than Jennifer Lickver, my business coach! Thanks so much Jenn! You're the best!

Should You Put Your Primary Residence In A Trust?

Play Episode Listen Later Mar 7, 2023 63:02

It's Tax Tuesday again, and today we're mixing it up – this episode is hosted by Anderson Advisors' Michael Bowman, Esq, who welcomes two of Anderson's expert tax pros, Eliot Thomas, Esq., and Kurt Bergfjord, Esq. And as always we've got our talented and experienced tax advisors manning the chat questions in the office. On today's episode, the guys review all the documents and receipts that you should be gathering up in preparation for filing your taxes, and answer multiple listener questions around the pros and cons of C-Corps, S-Corps, Partnerships, and the audit magnet - Sole Proprietorships. The discussion also covers our episode title question - are there benefits to putting your primary residence in a trust - which is really only for asset protection and estate planning - there are no tax benefits to doing so. If you have a tax-related question for us, submit it to taxtuesday@andersonadvisors. Highlights/Topics: "Even if I show income on my tax return from rental and business activity as a sole proprietorship, and self-employed but no taxable income because I use my large net operating loss to cover all taxes, is my income still considered income or will it be a hindrance as far as getting an investment loan or home equity line?" – It depends - Some are going to look at this, it will ding you, and you won't be able to get a loan. Others will take it into consideration and analyze the tax return. "I currently have two LLCs in California that I file as a partnership. Should I create another LLC as a holding for both LLCs? And should that be disregarded or filed as a partnership as well? Of course, there is the additional cost of $800 for California as well. What's your suggestion?" – from the legal point of view, it might be a better idea to have that holding company and all those assets coming into it. "How can a full-time LP investor in private equity in real estate syndications as well as stock investor utilizing options for income, structure such as to offset income of these activities with expenses, syndication conferences, to vet sponsors, subscription services, travel for investment briefings, computer equipment, expenses, et cetera? Assets are held in a Wyoming LLC and property trust for the stocks. Would a management C-corp make sense having one ‘client?' I am aware of people in my circumstances that write off expenses on their schedule C, but I recall Anderson doesn't recommend that." – If we could utilize that management corp, maybe we can capture some of those benefits that you otherwise wouldn't be entitled to. "How is REPS applied to a tax return?" – If you are a real estate professional (REP)for all intents and purposes, then you can actually turn that otherwise passive income into non-passive income. I's going to be on Schedule E page one or Schedule E page two if you have a K-1 "We have seven rental properties set up with the ABA structure. My husband works full-time for the government. I manage our home and rental properties. Two properties are mortgaged, the rest are paid for. Now, both in our 50s, we're financially comfortable with a large cushion. We got retirement funds, mutual funds, properties, kids, education funds, et cetera, but we are getting killed in taxes every year. I feel like we are working to pay taxes. We don't live extravagantly, and still drive the same cars for 10–15 plus years. Taxes feel like a punishment for saving when we were younger." - Ideas to save on taxes include becoming a REP, depreciation, cost-seg study, there's even a nickname- “short-term rental loophole” "What are the tax benefits of putting my primary residence in a trust?" There is no asset protection, but if it's in the right kind of revocable trust, then we still get to take advantage of our section 121 of tax exemption from gains on the sale of your primary residence—$250,000 single, $500,000 married filing joint. "I want to be as anonymous as possible. What is the best business structure and ways to submit taxes? I do not want the tax info to flow down to my personal taxes." - When we talk about anonymity, anyone looking at your personal tax return is really not going to have too much of a purview into your business activities. “Should I do a cost seg for a condo?” It depends - Have you had it for a while? are you a REP? Are you renting it out? Have you been appreciating for a while? "What is the best corporate structure to have in place that can also allow for tax savings?" We've covered this - C-corp, S-corp, partnership, and then the worst would be sole proprietorship. "What tax incentives are there for real estate investors to not have to pay an absurd amount in taxes?" - REP status, short-term rentals, cost seg studies, 1031 exchange, keep good books! "As a real estate investor opening my first LLC, which is the best for me to use, S-corp or C-corp? - it depends - do not put appreciating property in a C-Corp, but C is good for short terms or flips. "I started my LLC last year to begin my search for buying a business or real estate. Currently, I am a W-2 employee while I get started. My question is, can I write off any expenses since I did not make any money in my LLC? We've incurred expenses, but I don't have any income.” - was it open for business, or are you in the exploratory phase? timing on when to deduct may be more important. Resources: Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/ Anderson Advisors https://andersonadvisors.com/

california trust ideas partnership llc taxes primary assets lp residence esq reps aba llcs s corp c corp resources email michael bowman schedule e sole proprietorships anderson advisors wyoming llc

A Walk in Progress! Featuring Author Victoria Short

amazon live walk progress chapters barnes noble bam indigo apple books resources email with purpose

Play Episode Play 35 sec Highlight Listen Later Mar 3, 2023 27:02

Brief Episode Summary: What would you pay to confidently walk, hand in hand, with your favorite mentor? What follows are seven (7) of my favorite pearls of wisdom mined from our guest's treasure trove in her book, “Find Your MINI PUMPKIN – Life Lessons to live With Purpose." #mentor #wisdom #purpose #mentoring #communication #creativity #conviction #perspective #pandemic #gutKey Topics:Everyone needs a mentor. What's the greatest gift a mentor can provide to their student? What's the primary goal of mentoring? Is mentoring a one-way street or do the best avenues of communication have traffic going both ways?One's greatest moments of creativity and conviction can can from their "gut." How important is getting out of your own way?The handshake for many was rendered moot by the pandemic. What did it originally convey? What might stand in its place?Why is dealing with the public a good experience for young people?Words of advice typically reveal their wisdom over long periods of time. Why don't we heed its wisdom sooner?Whatever it is we're doing now job wise or vocationally, we'll likely not do it forever! When that day arrives, we'll be confronted with "so what now?" Everybody needs a project. What will yours be?Sometimes not knowing what's around the corner is better than knowing.Resources: Email link to episode...https://www.buzzsprout.com/859273/12362286Connect with Victoria and and buy her book "Find Your Mini Pumpkin: Life Lessons to Live with Purpose" from Amazon, Barnes & Noble, BAM!, Apple Books, Indie Bound, Chapters or Indigo and on her website at AuthorVictoriaShort.com. Connect with Victoria on Instagram at @authorvictoriashort. Support the show Link to podcast website and all the podcast episodes https://discoveringandlivingthebestversionofyou.buzzsprout.com Link with Alan's Facebook Business Page at facebook.com/interviewswithheart/ Link with Alan's Instagram page at https://www.instagram.com/alanfreedman26/ Support the show (https://www.paypal.com/biz/fund?id=NYYG9FE928BF6) No one person or entity has contributed more to the growth and development of this podcast than Jennifer Lickver, my business coach! Thanks so much Jenn! You're the best!

LLC vs S-Corp: Which One Is More Beneficial For Your Business?

Awe-Inspired and Retired - A Retirement Planning Podcast

Play Episode Listen Later Feb 7, 2023 63:55

Welcome to another Tax Tuesday show. Toby Mathis, Esq., hosts, with special guest Eliot Thomas from Anderson Advisors, and they are here to help answer your questions. On today's episode, Eliot and Toby dig into some listener questions surrounding the differences between an LLC and S-Corp and the pros and cons of each, avoiding capital gains taxes, and the usual assortment of questions about short-term rental properties (ie AirBnB), cost segregation, and qualifications to claim Real Estate Professional status. If you have a tax-related question for us, submit it to taxtuesday@andersonadvisors. Highlights/Topics: "If I choose cost segregation, do I have to apply the cost seg to all properties purchased in the same year, previous years, and future years? What are the disadvantages—tax aspects and non-tax aspects—of doing a cost segregation?" – If you do a cost seg, you're not required to use it on your other properties. That's very specific to one property. "I bought an apartment to fix it and put it up in Airbnb and to get the advantage of new business tax deductions. But now that we are thinking of renting it to regular tenants, this will be an investment instead of a business, correct? What are some of the deductions that we can take advantage of if we rent it to regular tenants instead of Airbnb such as renovations, expenses, travel expenses, furniture, and so on and so forth?" – Turning it into a long-term rental, you pretty much get some of the same deductions you would as a long-term versus short-term. They're the same. "Is it beneficial to set up an LLC versus an S-corp? And are you able to pay yourself a reasonable salary through an LLC?"- There are rules behind that. If you don't choose a tax status forth, the IRS will choose for you the basics… like Eliot said, it depends on how the LLC is taxed. "How should I hold my stock positions? What is the best way to deal with high capital gains consequences?" - We often talk about setting up a trading partnership, that might be one option. "My husband will work as a real estate agent to qualify for the IRS' definition of real estate professional, and potentially use the passive losses from our rental property to offset my W-2 income on our joint return. The IRS rule says my husband has to own at least 5% interest in the real estate company employing him. Does he need to form an S-corp to sign the contract with the brokerage firm so that he owns at least 5% interest?" - Yes, that's exactly right. You're going to want to have his earnings, if you will, from there being paid through an S-corporation that he owns, theoretically 100%, hopefully. "I sold an investment property on October 21 and paid a very heavy capital gains tax. Can I get some of that back if I buy another investment property today or now?" - No. We missed the boat on that. We can't carry back on any of these items at this point in the code. Maybe that'll change in the future, but right now, we don't have the ability to go back and change anything. "How many years can we go back without showing a profit?" - If you have too much of a loss, the IRS could come in and say, hey, is this really a for-profit business venture that you have going on here? "Is it okay to do your own taxes as a business owner if you had a CPA for 20 years?” Why is it a questionable call there? - We just had a massive overhaul of our tax code. You're going to want a CPA, somebody who does taxes, EA, tax attorney, whoever it is, to walk you through some of those things. "I bought a single family rental in November and am still repairing. No income yet. How do I record depreciation and costs for 2022?" - If we didn't have it available for rent in 2022, there isn't any deduction to take in those as far as operational, depreciation, or anything like that. "How to save taxes by flipping and renting houses?" - We're going to recommend a C -Corp probably as a management company so you can do all your activities that you're overseeing of your rentals through a C-corporation. "I just started my business in August of 2022. I would like to understand what from a tax perspective should be on the top of my mind as we prepare the first returns." - It depends on your business, but you're going to want to categorize and have an idea of what expenses are, to determine whether it's a net profit or net loss. Lastly, "If an investor purchases a property that is lower in value than the property sold in a 1031 exchange, will the IRS disqualify the exchange entirely?" – No. What's going to happen is you just may not have full deferment of the capital gains, but they're not going to disqualify it on that premise. Work with a qualified intermediary! Email us with your questions, and be sure to subscribe to our podcast. And if you are already a subscriber, please provide us a review of what you thought! Resources: Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/ Anderson Advisors https://andersonadvisors.com/ Toby Mathis on YouTube https://www.youtube.com/channel/UCX5nh607M8hSBLiMB9MgbIQ

work turning llc airbnb irs cpa ea esq corp eliot real estate professionals s corp c corp resources email anderson advisors

47: Scott Armstrong: The blueprint to crafting an inspired retirement

Play Episode Listen Later Feb 6, 2023 55:34

Scott Armstrong, CEO of Mindswitch joins Riley and Caleb to discuss his blueprint to helping retirees craft an inspired retirement. Scott is a ‘transition expert' and has taken his experiences with thousands of individuals to create Mind Switch, a program that helps individuals to retire and aspire. In this episode we learn about how Scott went from creating Canada's largest rehabilitation and education centre for abandoned exotic animals to a professional speaker and trainer, and published author, who has appeared on numerous television and radio programs helping people make the retirement transition. Learn more about: Why your retirement will be unlike your parents and the biggest challenges to maintaining health, vitality and purpose in retirement Examples of individuals who found a new purpose and who did some of their best work in retirement Actionable tips on how to prepare for a purpose filled retirement Resources: Email: scott@mindswitch.ca Scott on LinkedIn Mind Switch Website Hosted by Caleb Miller and Riley Anderson of InvestorDNA Meet Caleb and Riley Book a Call Subscribe on Apple Podcasts Subscribe on Spotify Subscribe on Google Podcasts

ceo canada retirement google podcasts blueprint crafting actionable scott armstrong resources email

How To Reduce Taxes From Your Rentals For Non-Real Estate Professionals

Play Episode Listen Later Jan 24, 2023 62:47

Tax Tuesday is here again. Toby Mathis hosts, with special guest Eliot Thomas from Anderson Advisors, here to help answer your questions. On today's episode, Eliot has grabbed a bunch of great questions for us to answer. Toby and Eliot will talk about the Augusta rule, easy tax deductions against W-2 income, cost segregation, bonus depreciation, real estate professional status, active participation, S-Corp, C-Corp and partnership advantages. Online, we have Ander, Patti, Ian, Dana, Matthew, Jared, Piao, Tanya, Troy, and Dutch, a multitude of CPAs, by the way, in our Q&A. If you ask questions in Q&A, you're going to get really, really smart people answering that question. Toby sends out a a huge public thank you to all these talented people. If you have a tax-related question for us, submit it to taxtuesday@andersonadvisors. Highlights/Topics: "I'm selling a property that was willed to be in 2019. I've been renting this property out since receiving it. It will sell for a profit of over $360,000. Would I pay taxes on the full profit or the difference between value at the time the property was willed or do I pay taxes on the difference between the profit and $250,000?” - You inherited it in 2019. It says you've immediately started renting it out, so it's an investment property. It's not going to qualify for the capital gain exclusion of living in our primary residence for two of the last five years. "What are some simple easy things that can be done to reduce taxable income and reduce taxes paid on each of my paychecks?” Donate to charity in large chunks, HSA, IRAs, etc. "Options for tax write-off, reducing tax burden if I have rental real estate, but I am not a full-time real estate professional. Both my wife and I have W-2 jobs that we don't foresee leaving anytime soon to become real estate investors." - See the answer to previous question, and also you want to look at if your AGI (adjusted gross income) is a little bit lower, maybe under $100,000, you can take up to $25,000 of the passive losses. "Augusta Rule: We have put our properties in a Wyoming entity and the Texas series LLC in late December of 2022, but have not started using it yet. Can we use the Augusta Rule in 2022 throughout the year for our business purposes, even though we've not completed setting up the business?" Augusta Rule, that's just what we call 280A most often. That's the ability to rent out your home. Dwelling is the proper term for no more than 14 days a calendar year. The income you receive, you don't have to pay tax on. “When a rehab required property acquired for long-term hold, when is the right time to do the cost segregation study? Before the rehab or after?" - Once you purchase a property or after the rehab, you could do it either way. If you don't do what's called a cost seg study, the IRS will let you treat it all as 27½ years… "Anderson created my S-corp entity in November of 2022. I've only had expenses for the year-end 2022, but no income or property purchases yet. What am I required to file for my S-corp regarding the expenses I've incurred?" – You're going to have to file your tax return for that S-corp. It is what we call an informational return. In other words, your S-corp doesn't pay any tax, but it does have a tax return called an 1120-S. "I created my two LLCs both with real estate assets with rental income in 2022. Also, I created a holding company that holds both the LLCs. I have a W-2 job. When do I file the tax for the holding company? Is it one tax filing that combines all the LLCs and my W-2?” - We recommend that the holding company becomes a partnership. Also, it helps from a lending standpoint. Typically, lenders are able to lend more to you being that the property is in a partnership than if it had been in a direct disregarded LLC. "Curious to hear an open discussion about one and how to utilize section 179 and/or bonus depreciation for vehicles." - Why not just do mileage reimbursement? It's like 65.5¢ a mile right now. It's your car. You can use non-commercial insurance. It could just be your car that you use. If you let employees use it, that goes out the window. "What are the steps to take in order to withdraw money from a C-corp account? Are there any tax consequences involved?" - With a C-corporation, the first thing I'd like to look at are the reimbursements… "How to save taxes as S-corp, and is it better to do an STD deduction?" - The S-corp has a lot of advantages to it to save on taxes. Standard deduction is huge for most people. But “it depends”. "Can you please touch upon what depreciation recapture is and how it impacts taxes?" - Basically, when you have an asset that's been used in a trade or business, we don't deduct the full cost of it immediately. We take a little bit over time, we call it depreciation. Then when you resell, you might have what's called depreciation recapture on that depreciation that you took over the years. It does depend on what kind of asset it is. "I work from my home office. How do I claim this?" - If you have a sole proprietorship, you can take a deduction for basically the percentage square use of that house, that's an easy way to describe it. If you could get reimbursed, then it could be 20% of your house. By the way, that includes mortgage interest, property taxes. If you have somebody coming in cleaning your house, your utilities. Be sure to subscribe to our podcast. And if you are already a subscriber, please provide us a review of what you thought! Resources: Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/ Anderson Advisors https://andersonadvisors.com/ Anderson Advisors on YouTube https://www.youtube.com/channel/UCaL-wApuVYi2Va5dWzyTYVw

texas online llc options dutch curious wyoming irs dwellings std eliot rentals iras cpas agi llcs ander hsa real estate professionals s corp c corp reduce taxes resources email anderson advisors

Why Have a Team That You Trust In Real Estate is Important, with Alex Ilchenko

trust real estate phone connecticut mobile resources email

Play Episode Listen Later Jan 17, 2023 31:47

Welcome To The Real Estate Underground Show #51! Alex Ilchenko started Blue Key Property Group in 2019 when he purchased an 8 Unit property off the market. After researching, he needed help finding a suitable property management company that could do it all, and he knew he had to build a team to continue buying more properties. Alex's team comprises a group of investing experts, including an acquisitions manager, mortgage specialist, property inspector, real estate attorney, insurance agent, property manager, handyman, operations manager, chartered professional accountant, and a team of subcontractors we work with daily. The company's primary goal is to provide full-service investment and property management. Their robust team of highly-trained professionals complements their service-first approach. As the leading team in the Connecticut area, they put their expertise to work for you. With over 130 units and above 15 Million in assets, Blue Key Property Group provides individualized blue ribbon full service to all their clients interested in real estate. They buy, sell, remodel, invest and manage real estate all under one roof. What you'll learn about in this episode: Listen to the journey of Alex Ilchenko, a Connecticut-based real estate investor who started by pushing his luck and knowledge investing in real estate. "If the numbers work, then go for it." knowing your numbers and being willing to walk away if needed, as it's a contact sport with one out of every 50 offers being accepted. Alex emphasizes that real estate requires patience and knowing when to move; he encourages others not to hesitate or overthink opportunities as long as they do their research first. How to be passionate about value-add buildings, focusing on making them clean, safe, and beautiful for tenants to stay longer in your properties? Why building relationships and having a team that you trust, including attorneys, wholesalers, lenders, and many more is, essential? Resources: Email: alex@bluekeypropertygroup.com Mobile: 860-494-3472 Additional Resources: Website: www.clarkst.com Phone: (860) 675-5800 Facebook: www.facebook.com/ClarkStCapital Instagram: www.instagram.com/clarkstcapital Twitter: https://twitter.com/clarkstcapital1 LinkedIn: www.linkedin.com/company/clark-st-capital

When it Comes to Child Sexual Abuse, Silence Isn't Golden...It's Poison! - Featuring Psychologist and Author, Dr. Kelli Palfy MA, Ph.d

amazon speaking silence golden poison psychologist indicators author dr child sexual abuse resources email caconnect

Play Episode Play 55 sec Highlight Listen Later Jan 13, 2023 24:30

Brief Episode Summary:“You can trust me, said the next-door neighbor to seven-year-old Tommy, can't you? Your parents love you very much and want the very best for you. They just don't understand you the way I do. We have a special friendship! It's best that it be our little secret, after all, we wouldn't want you to get in trouble, would we?” The predator has learned his or her craft well! They know that it's the very element of secrecy that binds the victim to their predator. The antidote is in breaking the silence! #secret #childsexualabuse #poison #predator #silence #sexualabuse #victimized #education #myths #sexualdevelopment #grooming #unfriendher Key Topics:What is child sexual abuse?How can young children be effectively armed in advance to disarm a predator should they be confronted, thereby not being victimized?Indicators of child sexual abuse can be behavioral, physical emotional or psychological. How might they present them self and if sexual abuse is suspected, what steps should be pursued and when?If you suspect that a child has been sexually abused or a child discloses to you that they have, what are some appropriate things to do and say to move the matter effectively forward?The key to preventing child sexual abuse is education. There are several myths regarding this matter which can disempower someone who was or continues to be victimized. What are some of the most held ones? Speaking to a child about sexual development may be one of the most important and empowering investments you can make in a child. What are some effective ways to engage with a child in this space? What are some of the more prevalent things to be on the lookout for when it comes to identifying sexual predators of young children?Resources: Email link to episode...https://www.buzzsprout.com/859273/12031609Connect with Dr. Kelli and buy her books on her website at www.kellipalfy.comConnect with Dr. Kelli on Facebook: Men Too Unspoken Truths About Male Sexual AbuseConnect with Dr. Kelli on LinkedIn at Dr. Kelli Palfy Connect with Dr. Kelli on Instagram: mentoo2020 or at Kellipalfy.caConnect with Dr. Kelli on Twitter: @MenToo2020 Get your own copy of Dr. Kelli's life-changing books and learn more about her at Amazon https://www.amazon.com/author/drkellipalfy Reach Dr. Kelli at her email: kellipalfypsychology@gmail.com or by phone780-242-4055 Alan Freedman's link to register to receive new podcasts and other updates: http://eepurl.com/g1DSf9 Link to tell us what podcast themes you'd like to see us cover: https://form.jotform.com/210597899275071 Support the show Link to podcast website and all the podcast episodes https://discoveringandlivingthebestversionofyou.buzzsprout.com Link with Alan's Facebook Business Page at facebook.com/interviewswithheart/ Link with Alan's Instagram page at https://www.instagram.com/alanfreedman26/ Support the show (https://www.paypal.com/biz/fund?id=NYYG9FE928BF6) No one person or entity has contributed more to the growth and development of this podcast than Jennifer Lickver, my business coach! Thanks so much Jenn! You're the best!

How To Claim Capital Losses From The Stock Market

Play Episode Listen Later Jan 10, 2023 56:03

In this episode of Anderson Business Advisors, Toby Mathis speaks with Eliot Thomas, Managing Tax Advisor at Anderson Business Advisors. There are lots of people helping to answer questions online - Patti, Ander, Matthew, Troy, Jared, Piao, Ian, Dutch, and Dana are on. There are so many people here. You have a whole bunch of tax professionals that are here to answer your questions. You can just go into the Q&A and put in a question. You'll hear Toby and Eliot discuss several listener questions around how to report capital losses in the stock market, a few questions on real estate and business LLCs vs. S-Corps, C-Corps, and Sole Proprietorships, disregarded entities, entertainment meals vs. business meal write-offs, and an in-depth discussion about a real estate contractor not filling out a W-9 and all the difficulties that might present. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: "Hey, I'm looking to start a new business. I need to choose a correct business entity in order to maximize my tax benefits, so I need to know if starting the business as an LLC and potentially working the business out of my home would be the best option for me." – by all means, you want the LLC for that asset protection, but the S-corp or the C-corporation—have those great reimbursements. "Can I write off my stock holding loss at the end of the year to reduce my W-2 earnings?" Yes, but we're limited potentially just to $3000 of capital loss that will offset against ordinary income, that being your W-2. "What are the rules for HSAs for people over 62?" – For 2023, the amount is going to be $3850 if you're single, and I guess it'd be $7750 for a family plan. If you are on Medicare, you can not contribute tax-free to an HSA. "I became a real estate professional in 2021 and have a significant net operating loss due to depreciation. What are the limitations of carrying the NOL backward in 2020 and 2019 to use that to lower taxes in the previous year?"-- As of right now, we don't get to carry back NOLs. We just carry them forward. "If my partnership LLC did not conduct any business this year, do I still need to file a Form 1065? -- You don't have to file 1065 for that first year. I'm in the process of setting up my real estate business. I already have a Wyoming LLC as a holding company. It's treated as a disregarded entity, but I have no investment in real estate yet. If I file my taxes this year before I acquire an investment property, what is the process for changing the filing election of the LLC from disregarded to a partnership for the new property?" – You don't have to do anything but file that return, or you could file the Form 8832 and declare it as a partnership. "I am new to real estate flipping and started my first flip last year. Construction was completed this year, and it closed this year. I asked my contractor if I need to complete a W-9 last year, and he told me not until the project was complete. Now, I'm realizing that I should have had him complete the form in 2021 for the amount I paid him and again this year. Can I now ask him to complete the W-9 and file the form for 2021 and 2022? The other issue is I had issues with this contractor for faulty workmanship he did on the flip and in the process of filing suit. What if he refuses to complete the W-9?" If you're dealing with a contractor who's organized as a business, chances are you still want that W-9 to prove that they're a business. "What forms do I need to fill out for my accountant to show capital loss in the stock market?" – Usually, you're going to get a 1099-B from your brokerage house. They can just use that, and that's really all you need. "As an owner-operator trucking company designated as an LLC, can you write off 100% of the operating fuel costs?" – If the truck that was burning that fuel was used 100% for business, absolutely. "I am a lender on a note to an LLC. What are the best practices for collecting payments and tracking interest payments for reporting purposes; separate bank account for the payments or create an end-of-the-year interest statement for myself?" - I like the separate bank account. Keep it separate from your personal obviously. "I attended your Las Vegas event. Please confirm if we are to refrain from listing items as entertainment when filing taxes." - They're probably referring to the Tax Cuts and Jobs Act getting rid of entertainment. There is no deduction for entertainment. If you are getting a meal that is for entertainment purposes, you cannot write it off. Business meals only for 2022. "I'm looking to convert from an LLC-S to a C-corp in 2023. Should I stay on a calendar or fiscal year schedule? What are the pros and cons?" – I like the fiscal year for C-corp because it tends to give you more flexibility, especially when it comes to payroll items or contributing to, say, Solo 401(k)s or something like that. Visit us at andersonadvisors.com. Grab one of the free events. We're going to do a ton of them this year. Resources: Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/ Anderson Advisors https://andersonadvisors.com/ Anderson Advisors on YouTube https://www.youtube.com/channel/UCaL-wApuVYi2Va5dWzyTYVw

business las vegas solo llc capital dutch construction claim medicare losses stock market eliot tax cuts jobs act llcs ander hsa s corp hsas c corp nol nols resources email sole proprietorships anderson business advisors anderson advisors wyoming llc

As a Person Thinks in Their Heart, So They Are - Featuring World-Class Thought Leader. Advisor, Speaker and Author, Syed Shoaib

amazon spotify power speaker emotional intelligence advisor world class thought leaders syed shoaib resources email

Play Episode Play 56 sec Highlight Listen Later Jan 6, 2023 38:47

Brief Episode Summary:What seizes upon the heart and sets us free, is a knowing and acceptance that we become less and less important to more and more people with the passing of time. They become consumed with themself! What's really in play and what we can control and foster, is an acknowledgment of our uniqueness and purpose and that our greatest potential and progress occurs when we're in seasons of desperation, not comfort! #uniqueness #purpose #seasons #desperation #potential #comfort #progress #heart #emotions #emotionalintelligence #amindyoumustknow #masks #trust #wisdom #knowledgeispower #knowledge #strengths #weaknesses #lifepurpose #napoleonbonaparte #opportunity #poverty #crime #globalsociety #globalcitizen #brothers #sisters #achievement #commitment #internalresistance #challenges #temporary #rewarded #diligence Key Topics:"Until you first own your emotions, it's impossible to own your life!" In Syad's book, A Mind You Must Know, he says that Emotional Intelligence is the ability to control one's emotions. Why is that so important and what's at stake?"Until the masks come off and the wax removed, every date is a blind one!" In your book you say we ought to respect everyone but trust only a few and only after doubting them enough. When is enough, enough?There is that saying, Knowledge is Power. I couldn't disagree more! Our guest agrees! There's more to this!Some suggest that we ought to be focusing all our time, talents and treasures on our strengths and nothing on our weaknesses. That's what I thought...until Syed added his wisdom!As global citizens, what responsibility do we have toward our less fortunate brothers and sisters? When it comes to our achievements, what role does internal resistance play? Why is giving up amidst life's storms, never a good option?Resources: Email link to episode...https://www.buzzsprout.com/859273/11987798Connect with Syed and buy his book "A Mind You Must Know" from Amazon globally on his website at www.syedmshoaib.comConnect with Syed on his Facebook page at https://www.facebook.com/shoaib.syed130Connect with Syed at LinkedIn at www.linkedin.com/in/syed-shoaib-7569447b Connect with Syed on Instagram at https://www.instagram.com/author.syedshoaib/Connect with Syed on YouTube at https://www.youtube.com/channel/UCV0irlcMmP8Q13dC_Vjj0rw Connect with Syed on a podcast at Spotify: https://open.spotify.com/show/5SAdf2kBsjlqWW2Y7NR93c Alan Freedman's link to register to receive new podcasts and other updates: http://eepurl.com/g1DSf9 Link to tell us what podcast themes you'd like to see us cover: https://form.jotform.com/210597899275071 Sheri Sperry's website to connect with her, https://sellsedona.com/sedona-lifestyleCall to Action If you enjoyed this week's podcast episode, I would greatly appreciate it if you would rate and review it Link to podcast website and all the podcast episodes https://discoveringandlivingthebestversionofyou.buzzsprout.com Link with Alan's Facebook Business Page at facebook.com/interviewswithheart/ Link with Alan's Instagram page at https://www.instagram.com/alanfreedman26/ Support the show (https://www.paypal.com/biz/fund?id=NYYG9FE928BF6)

How To Structure Your Side Business

Play Episode Listen Later Dec 28, 2022 44:32

Today's Tax Tuesday episode is your 2022 send-off with a series of rapid-fire questions around year-end tax situations. Toby Mathis hosts with a few staff available to answer online. In this episode, you'll hear our advice on combining multiple businesses and making sure they are incorporated and isolated from you personally which protects you from liability, opening a 401(k) by the end of the year vs. before the tax deadline, purchasing cars under a business umbrella to make income with Turo, and various other valuable end-of-the-year tips on tax strategies that you should do before January 1st, and a few that you can still take care of in early 2023 before the tax deadline. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: “Last year was the first time I wasn't able to take investment real estate depreciation or deduction due to AGI over 150. I don't have too many necessary losses or even losses that I don't know or don't think will get back up, but it seems like a way to reduce my AGI. How do multiple-unit landlords do it? I'm thinking five houses without stock could get you up over the limit." - You've probably been phasing out, you just didn't realize it. Maybe your loss was small enough.You could do certain things to lower your AGI. Harvesting capital losses is one of them. "My husband and I have full-time corporate jobs, but also have small side businesses—remodeling, party rentals, and online sales—which are really diverse, that are in different categories. How is it best to structure everything for easy accounting and tracking of funds from all of these? - The general rule is you want to isolate any business that's doing business with somebody else. You probably want to isolate them from each other. Keep your structure simple and have one set of books, just have one business. I would have it as an LLC. Isolate it from YOU. "Do I have to open a 401(k) by the end of the year to make contributions?" – If its your salary deferral, yes, if its employer, you can do it after the next year starts. "My CPA has suggested I take the late election of an S-corp. C-corp was formed on June of 22. I've had plenty of expenses building the foundation of a wholesaling business, but no deals yet. With tax filing, I assume I do a late election of an S-corp. Will my taxes be filed as an S-corp or as a C-corp? And how does that impact the business startup expenses I've had since March of 2022?" - My suggestion is that C-corps are a trade or business the day that they started. "How can I make sure our Utah-based kids pay minimal tax on the sale of our property in California when we die? We know it will be stepped up in value. When I sold my own dad's property in California when he died recently, we paid a big tax on it to California as non residents. Should we sell it and do a 1099 exchange?" - California doesn't have an inheritance tax, period. They haven't had one since the 80s, so I'm trying to think of how they taxed you. Send us an email I would like to find out more and answer this! "I lived in a condo for nine years and bought a house last year with a 5% down payment. The condo was rented out. If I sell it now, will I have to pay capital gains tax? If so, how can I avoid paying capital gains tax?" 26 USC 121 - It says that if you lived in a property as your primary residence for two of the last five years, if you're single, you get a $250,000 capital gain exclusion. If you're married, you get a $500,000 capital gain exclusion. "Looking for the best ways to protect net profits. I've seen 401(k) contributions, IRA contributions, investment and materials equipment, owner distributions, We are uncertain of future events and would like to keep what we've earned without paying it all to the government." - If it's net profit from the business- use all the business expenses. Look at a defined benefit plan, charity, accelerated depreciation...a lot of things you can be doing. "If I'm using a private lender to buy a property and borrow $10,000 more than my purchase price, is the additional $10,000 taxed as income?" The answer is no. You can always borrow money, and it's not taxable to you. "This year, we made a little more money and wanted to know if your service will help us offset anything with my somewhat new business before the end of the year is over. I currently have a massage, esthetician business that I opened in October 2018. Then the pandemic hit in March of 2019, in which my state licensing demanded we stop all services or we'd get our license taken away causing me to go in the red for 2019, 2020, and 2021. Moving forward, my business has been slowly coming back but still struggling. During the pandemic, I went back to school getting certified to work in the holistic health care setting. I'm in the process of adding that business to my existing, so I wanted to get advice on the best way to set things up if I have multiple businesses." That's a question I cannot answer for you. But make sure they are isolated from YOU like my previous question. "My husband and I are wanting to take advantage of the equity in our home and would like to invest into some rental properties to start to dabble in real estate investing and Airbnb. I also wanted to know if your company will be there for us on any financial advising and legal advising in our planning on this new venture." This is exactly what we do. Rental properties are different from Airbnb. As it is all real estate - probably want to isolate A, B, and C from each other, and we want a structure that allows us to get the maximum tax benefit in isolating that liability. "We are dabbling in Turo. So far, it's been doing well. We're interested in expanding it with more cars to add in. However, we now would like any new cars we added to be purchased under the business name." - Depending on the type of car, it could be a deductible in one year. If you're doing this in your name, you're exposed. You have a ton of exposure. You need a business name on it. There are a lot of things that are not time-ish critical before the end of the calendar year, but the big ones are salaries, reimbursements, charitable giving. Check our YouTube channel for more on end of the year tax strategies. We hope you have a great start to the new year! Resources: Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/ Anderson Advisors https://andersonadvisors.com/ Anderson Advisors on YouTube https://www.youtube.com/channel/UCaL-wApuVYi2Va5dWzyTYVw

california moving utah llc airbnb structure usc depending tax rental harvesting agi isolate turo side business resources email anderson advisors

How To Incorporate Your Passions In Your Real Estate Business, with Irfan Raza

Play Episode Listen Later Dec 27, 2022 43:01

Welcome To The Real Estate Underground Show #48! Irfan Raza is the founder and president of Raza Homes LLC, a real estate investment management and development firm focused on single-family and small multifamily properties in the greater Philadelphia area. Irfan began building a small personal real estate portfolio with his own funds in 2009 while working as a public accountant for a regional New Jersey Accounting firm. In 2015, Irfan founded Raza Homes LLC to focus on real estate full-time. Since 2009, Irfan has successfully renovated or developed over 125 units worth approx. $20MM, and currently owns over 100 units worth approx. $15MM. In 2017, Irfan founded Property Buyer Connect, a direct acquisition company, to complement his rental business. Irfan earned his CPA in 2009 and graduated Magna Cum Laude from Temple University in 2008 with a bachelor's degree in accounting. What you'll learn about in this episode: In real estate, failures are opportunities to learn. Irfan's real estate journey. Where to start in real estate? Single-family?Small multifamily? Residential real estate? How to incorporate your passions in your real estate business What is CPA, and why is it helpful to know? Does raising (investment) money in a real estate business necessary? Home assessed Value VS Market Value? What are price pressure and price correction? Resources: Email: irfan.a.raza@gmail.com Facebook: www.facebook.com/irfan.a.raza Twitter: https://twitter.com/irfan_a_raza Instagram: www.instagram.com/irfan.a.raza Additional Resources: Website: www.clarkst.com Phone: (860) 675-5800 Social Media Facebook: www.facebook.com/ClarkStCapital Instagram: www.instagram.com/clarkstcapital Twitter: https://twitter.com/clarkstcapital1 LinkedIn: www.linkedin.com/company/clark-st-capital

home philadelphia single phone cpa passions residential temple university incorporate real estate business raza magna cum laude irfan 20mm resources email 15mm

Namaste...honoring the light in those we love - Featuring Dr. Kelli Palfy MA, Ph.d

amazon honoring namaste love dr resources email caconnect

Play Episode Play 51 sec Highlight Listen Later Dec 23, 2022 41:22

Brief Episode Summary: Recently, my wife and I were out to dinner with friends. As Fran continued her conversation with Sally, I was gently led to share with Patrick how excited I was as to the upcoming podcast series I'd arranged with Dr. Kelli Palfy, its focus being on the young victims of sexual abuse and just how widespread it is under the age of 18, as high as 1 in 3 with girls and 1 in 6 with boys. Patrick was clearly taken aback. I on the other hand, was not surprised when he validated what I'd recently been reading in Dr. Palfy's book, “Pawsitively Me." Patrick said, “I discovered that both of my adopted kids, a boy and a girl, as preschoolers, were sexually abused. My daughter didn't and still doesn't, want to talk about it.”#sexuallyabused #therapy #drugabuse #namaste #KelliPalfy #victims #sexualabuse #pawsitivelyme #theunsafeneighbour #survivors #childsexualabuse #caregiver #mentoo #malesexualabuse #grooming Key Topics:Regarding child sexual abuse, what are some of the largest myths which are both dangerous and costly?What are six things every caregiver of children needs to know?Some of your men friends as children, were sexually abused and have been suffering in silence for years. What's their next best step to being set free? What is grooming and what are some of the most often used predator techniques?How might sexual abuse be a catalyst to other destructive behavior experienced by the abused?What books has Dr. Kelli authored or co-authored that can be powerful intervention tools to use with family and friends? Resources: Email link to episode...https://www.buzzsprout.com/859273/11919095Connect with Dr. Kelli and buy her books on her website at www.kellipalfy.comConnect with Dr. Kelli on her Facebook: Men Too Unspoken Truths About Male Sexual AbuseConnect with Dr. Kelli on LinkedIn as Dr. Kelli Palfy Connect with Dr. Kelli on Instagram: mentoo2020 or at Kellipalfy.caConnect with Dr. Kelli on Twitter: @MenToo2020 Get your own copy of Dr. Kelli's life-changing books and learn more about her at Amazon https://www.amazon.com/author/drkellipalfy Reach Dr. Kelli at her email: kellipalfypsychology@gmail.com or by phone780-242-4055 Alan Freedman's link to register to receive new podcasts and other updates: http://eepurl.com/g1DSf9 Link to tell us what podcast themes you'd like to see us cover: https://form.jotform.com/210597899275071 Sheri Sperry's website to connect with her, https://sellsedona.com/sedona-lifestyleCall to Action If you enjoyed this week's podcast episode, I would greatly appreciate it if you would rate and review itLink to podcast website and all the podcast episodes https://discoveringandlivingthebestversionofyou.buzzsprout.comLink with Alan's Facebook Bus Link to podcast website and all the podcast episodes https://discoveringandlivingthebestversionofyou.buzzsprout.com Link with Alan's Facebook Business Page at facebook.com/interviewswithheart/ Link with Alan's Instagram page at https://www.instagram.com/alanfreedman26/ Support the show (https://www.paypal.com/biz/fund?id=NYYG9FE928BF6)

The Difference Between Passive and Active Investment, with Margaret Kozlark

phone investment active fixing passive resources email

Play Episode Listen Later Dec 20, 2022 40:39

Welcome To The Real Estate Underground Show #47! What you'll learn about in this episode: In real estate, failures are opportunities to learn. How can we exploit the capital and earn a good amount of money? What is the difference between passive and active investment? Is there a difference between Multi-family and single-family homes? What is much better to fix or flip for a good investment? Fixing property is essential because we create a clean and safe place for people to live and then upgrade and enhance it. Resources: Email: margaret@noblivest.com LinkedIn: www.linkedin.com/in/margaret-kozlark Facebook: www.facebook.com/noblivest Instagram: www.instagram.com/noblivest Website: https://noblivest.com Additional Resources: Website: www.clarkst.com Phone: (860) 675-5800 Social Media Facebook: www.facebook.com/ClarkStCapital Instagram: www.instagram.com/clarkstcapital Twitter: https://twitter.com/clarkstcapital1 LinkedIn: www.linkedin.com/company/clark-st-capital

So, You Want to be a Financial Advisor...Are You Nuts? - Featuring Cindy Crossett, RICP, WMCP

medicare nuts financial advisors long term care insurance ricp resources email

Play Episode Listen Later Dec 16, 2022 14:50

Brief Episode Summary:When one is contemplating their life-purpose, their chief reason for being, there are a myriad of reasons that someone might choose to become a career financial advisor…thankfully, some of them solidly grounded in a deep sense of ethics and morality, committed to putting the needs of others before their own, not just in word, but most importantly, in deed. For these true servants, their involvement goes well beyond financial remuneration and peer recognition, where the end results are largely out of their hands, and sadly, oftentimes less than hoped for, pulling on the emotional strings of both client and advisor. #financialadvisor #life-purpose #global #bullmarket #bearmarket #markets #volatile #volatility #stocks #bonds #correction #gold #hedge #inflation #annuity #longtermcareinsurance #medicare #investment #mutualfunds Key TopicsHow long will the current negative stock market correction last, how deep will it be and how long will it take for markets to recover to their prior highs? Is there an answer one can rely on? As a person ages, should the percentage they hold in their portfolio as stocks be reduced and should it ever be reduced to zero?Should gold make up some percentage of your total investment portfolio?Is there a case to be made for ever including annuities in a portfolio?The topic of Long Term Care Insurance can be a hotly debated one. What are some of the pros and cons of owning it and what role if any, does Medicare play in providing coverage?To achieve ones financially goals, is it better to use a professionally managed investment platform or mutual funds and is one more cost efficient than the other?Given that there's only so much a financial advisor can control, what's the most valuable benefit they can provide to their client?Resources: Email link to episode...https://www.buzzsprout.com/859273/11879614Connect with Cindy on her website at crossettfinancial.comConnect with Cindy on her Business Facebook page at https://www.facebook.com/CrossettFinancialConnect with Cindy on LinkedIn at https://www.linkedin.com/in/cindycrossett/ Alan Freedman's link to register to receive new podcasts and other updates: http://eepurl.com/g1DSf9 Link to tell us what podcast themes you'd like to see us cover: https://form.jotform.com/210597899275071 Sheri Sperry's website to connect with her, https://sellsedona.com/sedona-lifestyleCall to Action If you enjoyed this week's podcast episode, I would greatly appreciate it if you would rate and review it Link to podcast website and all the podcast episodes https://discoveringandlivingthebestversionofyou.buzzsprout.com Link with Alan's Facebook Business Page at facebook.com/interviewswithheart/ Link with Alan's Instagram page at https://www.instagram.com/alanfreedman26/ Support the show (https://www.paypal.com/biz/fund?id=NYYG9FE928BF6)

Why Doctors Make Great Entrepreneurs, with Dr. Pranay Parikh

entrepreneur real doctors phone parikh pranay resources email

Play Episode Listen Later Dec 13, 2022 39:01

Welcome To The Real Estate Underground Show #46! What you'll learn about in this episode: In real estate, failures are opportunities to learn. Does real estate that hard that you need to leave your profession? Is there an easy way to earn passive in Real estate? You don't need to have unique talents in real estate; you need to try and fail and try again. In real estate, failures are opportunities to learn. Does real estate that hard that you need to leave your profession? What are the struggles you will encounter in real estate? Resources: Email: pranay@ascentequitygroup.com Website: reu.ascentequitygroup.com Additional Resources: Website: www.clarkst.com Phone: (860) 675-5800 Social Media Facebook: www.facebook.com/ClarkStCapital Instagram: www.instagram.com/clarkstcapital Twitter: https://twitter.com/clarkstcapital1 LinkedIn: www.linkedin.com/company/clark-st-capital

The Best Avenues of Communication Have Traffic Going Both Ways, Featuring Author, Coach, and Transpersonal Psychologist, Alan Carroll

amazon living discovering traffic psychologist avenues transpersonal author coach resources email

Play Episode Listen Later Dec 2, 2022 44:12

Brief Episode Summary:The heart of this podcast, “Discovering and Living the Best Version…of YOU!” is to provide content to the listeners of the podcast from some of the best minds in the fields of personal and spiritual growth and in a way that will empower the listeners to grow into becoming the best version of them self. After much thought and due diligence, I thought I'd reached the point where I could confidently say I'd arrived, that audio only was the best way to effectively communicate podcasts with the world! Then, Alan Carroll and his book The Broadband Connection crossed my path and entered my space. Now, I'm not so sure! #communication #spiritual #BroadbandConnection #IT #fear #publicspeaking audio #power #purpose #owningtheroom #consciousness #mentalconcepts #conscious #conversation #presentation Key Topics:What's at the core of the fear of public speaking and how does one begin overcoming it?Many in the audio communication space have been misled in several areas, including the notion that pausing during a presentation is fraught with negatives. WRONG! There is real power in the pause!If you're a communicator, why is knowing your purpose so deeply important?Want to "own the room" when addressing a group no matter how large the number, here's how!What is consciousness? When addressing a group, why is it correct to refer to it as a conversation and not a presentation? If you could choose only 1 skill to master to become more proficient, what would it be and why? Resources: Email link to episode...https://www.buzzsprout.com/859273/11797896Connect with Alan Carroll on his website at www.acamindfulyou.comConnect with Alan Carroll on his Business Facebook page at https://www.facebook.com/AlanCarrolltrainsConnect with Alan Carroll on LinkedIn at https://www.linkedin.com/company/aca-mindful-you/Connect with Alan Carroll on Instagram at http://instagram.com/mindfulnesseminar?igshid=YmMyMTA2M2Y=Get your own copy of Alan's life-changing book, "The Broadband Connection" at Amazon and his website. Alan Freedman's link to register to receive new podcasts and other updates: http://eepurl.com/g1DSf9 Link to tell us what podcast themes you'd like to see us cover: https://form.jotform.com/210597899275071 Sheri Sperry's website to connect with her, https://sellsedona.com/sedona-lifestyleCall to Action If you enjoyed this week's podcast episode, I would greatly appreciate it if you would rate and review it Link to podcast website and all the podcast episodes https://discoveringandlivingthebestversionofyou.buzzsprout.com Link with Alan's Facebook Business Page at facebook.com/interviewswithheart/ Link with Alan's Instagram page at https://www.instagram.com/alanfreedman26/ Support the show (https://www.paypal.com/biz/fund?id=NYYG9FE928BF6)

Fulfill Your Assignment, Not Your Potential

Leadership Moment | Foundational Missions

Play Episode Listen Later Dec 1, 2022 30:18

Have you ever found yourself in the trap of wondering if you're doing enough? If you're truly living up to your potential? What if the point is something else entirely?Listen as Mukwenda Kandole, a young entrepreneur, shares how he went from a missions background to starting his own successful business, and discover what God has shown him along the way.➡️ Read the blog postFollow or Subscribe➡️ Apple Podcasts➡️ Google Podcasts➡️ Spotify➡️ AmazonKEY TAKEAWAYS:What the name Mukwenda Kandole means, and where it came fromKandole's thoughts on the role of faith in business and how it may impact the business world in the future.LINKS & RESOURCES:Email: mukwenda.business@gmail.comSpark Your Brand is Mukwenda's businessConnect with Mukwenda on Instagram: @mukwenda_kandoleABOUT MUKWENDA KANDOLEMukwenda Kandole is the founder of Spark, a brand consulting, video production, and digital marketing company. He has worked with businesses and nonprofits in the US and around the world, helping them to grow their brands and reach their audiences.Mukwenda Kandole was born into a family of faith. His father was born again after a man from Dallas, Texas flew into Kenya and drove three days into Uganda to present the gospel to him. Kandole followed in his father's footsteps, working in missions and eventually starting his own business. Kandole's business, Spark, focuses on brand consulting, video production, and digital marketing for growing companies. Kandole sees himself as a forerunner in the faith-led business movement and is passionate about changing the world for Christ.ABOUT THE LEADERS MOMENTThe world needs more great leaders, but leadership in God's Kingdom is upside down.If you're looking for answers and insights from leaders who have served faithfully for years and decades, you've come to the right place. The FXMissions Leaders Moment podcast is for the everyday leader who's not chasing titles or accolades or personal gain. It's for the leader who wants to do the very best with what God's called them to, no matter how big or small it seems.Start listening today and see what God does with it!✅ Follow to get the show for free✅ Let's Connect✅ Get updates on my book

god jesus christ texas kingdom kenya spark uganda assignment fulfill resources email

How To Reduce W-2 Taxes By Owning Rental Property

Play Episode Listen Later Nov 29, 2022 60:59

Today's Tax Tuesday episode answers several listener questions on HSAs, S-Corps vs. LLCs, and reducing your taxes with rental properties. Eliot Thomas hosts, along with Jeff Webb, CFO of Anderson Business Advisors. Online we have Dana, Dutch, Piao, and Troy - all kinds of resources there to help answer some of your questions. In this episode, you'll hear our advice on the tax benefits gained from being an LLC, S-Corp or C-Corp, and we'll answer a couple questions concerning HSAs - their contribution limits and investing with that HSA money. There are also some questions answered about home offices, ITIN numbers, bitcoin and of course a little bit about short and long-term rental properties and their tax implications. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: "Can you please explain the difference between an LLC, a C-corp, and an S-corp? Can an LLC also be a C- or an S-corp? I understand that C-corps and S-corps are tax elections, but are they also a type of entity?" –LLC is a legal entity, it is not a tax entity. If you want anything else like an S-corporation or C-corporation, you actually have to tell the IRS that, make an election. "Are the limits for contributions a monthly or annual amount? On irs.gov, the limit as listed is $3200 for single and $7200 for family." - the contribution limits are annual amounts. "My accountant thinks I should switch from an S-corp to a Schedule C," that's a sole proprietorship on the 1040, "because my profits are below $80,000–$90,000, and the S-corp is expensive, and I'm just one person, so I do not want to grow any bigger, and I'm happy with the sales. My question is, what is best for me, not the company? What happens if I switch? What is better for retirement and social security as I am 56 years old?" - You are going to pay for a tax return to the S-corporation that you wouldn't have to pay for extra on Schedule C. There's some work to do to put that Schedule C together. Your 1040 may get a little more expensive. If you have a health insurance plan for yourself that you're paying for, that should be paid for by the S-corporation. It will save you a good deal of money. "Can you convert a personal vehicle into a business vehicle if you only use it for business? What if you only own one vehicle? Can you deduct mileage, gas, or anything else?" - You can do that, but you have to actually contribute the vehicle to the business. Because what we don't want is any personal use of this vehicle. The solution is to track your mileage. If you are one who drives a lot, the more you drive, the more mileage, the better this comes out - keeping it in your name as a personal vehicle. "Can I reduce my W-2 taxes for my job by owning rental property?" – If you are materially participating in your short-term rental—it's not really a rental to trade or business—yes, the losses from that could reduce your W-2 income. It's plausible, but you're going to have to be within these parameters, short-term rental, or long-term rental and meet the criteria for it. "I have a C-corp staffing business. Since Covid, I've been using my home office. The home is in mine and my son's name. How can I count for the space used as an office for a tax deduction? “What is your advice for a small business owner on employing people who only have their ITIN number pending the social security number?" -Basically, you're not allowed to have people with an ITIN as employees. They have to have a social security number and be registered in the US to be here. "Can you discuss the step-by-step process of completing a 1031 exchange? - The forward 1031 makes more sense, because keep in mind, you cannot touch the cash. You also need a Qualified Intermediary. Determine if you want to do a forward 1031, a regular 1031, or do you want to do a reverse? "I have a question regarding investing with my HSA. Does an HSA function like a Roth IRA in terms of paying UBITs (unrelated business income tax)? In other words, if I invest my HSA in crowdfunding or syndication, for example, will I have to pay UBIT?" - You need to be very careful with the investments that you're going into. To your question, yes, it's subject to your HSA, it's subject to UBIT. If you invest in a real estate syndication, those typically run for four to five years. That money's going to be locked up in a hard asset that you can't get to. "Can I write off a loss selling my bitcoin with a $10,000 loss? I bought it at $26,000 and bought it right back at $16,000." - It's not allowed for you to recognize a loss on that. You've got to wait 30 days. "My understanding from a tax perspective, an LLC taxed as a C-corp and a traditional C-corp receive the same benefits such as medical reimbursement, administrative office, retirement plan, et cetera. (1) Can you explain the positions of the LLC taxed as a C-corp? Do I still need a president, vice-president, treasurer, secretary, or just member managed? - Those positions are usually required by state law. It has nothing to do with how they're taxed. It has to do with how they're formed. (2) Why would anybody form an LLC taxed as a C-corp over a regular C-corp? If there is no plan to take it public, why choose one over the other? Cost to maintain, paperwork required, et cetera?" - Yeah, easier form, less criteria behind it, a C-corp is required to have certain meetings, et cetera. You don't necessarily have that with the LLC. "Is it best to start an Airbnb business now or wait until the beginning of the next year for tax purposes? What do you think the best options are?" – You don't need to do cost segregation. It's not going to help you, unless you're renting this property out for a lot of money, like it's a beachfront property and a primary or something like that, and you're getting $10,000 a week for it. I would conserve it or save that cost seg for potentially 2023. Check out our events coming up later this month. Resources: Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/ Anderson Advisors https://andersonadvisors.com/ Anderson Advisors on YouTube https://www.youtube.com/channel/UCaL-wApuVYi2Va5dWzyTYVw

covid-19 online cost llc airbnb dutch taxes owning property reduce cfo irs determine roth ira rental properties llcs hsa itin s corp hsas c corp ubit resources email schedule c jeff webb anderson business advisors anderson advisors

Claiming YOUR Divine Heart Transplant...You Rebel You! Featuring Mind Hacker, Coach, Author and Hypnotherapist Karin Tyden

amazon fear coach divine mirror hackers rebel barnes realtors noble rebels claiming transplants hypnotherapists heart transplant mind hacking resources email

Play Episode Play 60 sec Highlight Listen Later Nov 18, 2022 50:38

Brief Episode Summary:It didn't take very long at all as I feverishly dove into our guest's book, “Mind Hacking for Rebels,” to discover something that means a great deal to me…I'm an authentic unapologetic Rebel! You dear listener may end up making the same claim! This I promise you…wherever you are on your life-journey, if you will carefully read and diligently apply this book to your life, it will not be long before you experience exciting positive change on a myriad of levels! I am! #rebels #insights #neurons #mirrorneurons #hacker #self-esteem #self-confidence #brain #creativity #anxiety #nervousness #angst #insecurity #helplessness #powerlessness #overwhelmed #failure #unknown #perform #abandoned #purpose #emotionalcramping #emotions #feelings #divinehearttransplant #hearts #intelligence Key Topics:One of our most basic survival strategies is to become when we're growing up, as similar as possible to our caretakers, for example our parents. Mirror neurons allow us to do that. What are the implications of this? What do you want the listeners to this podcast episode understand about hacking? It's not all bad!Good self-esteem and self-confidence are not something you either have or don't. How are they built?Fear shrinks our brain capacity at great cost! What are some solutions one can employ to gain a victory over fear?How do emotions and feelings play out in the human experience?You say that we need to slow down to speed up. Why are we so reluctant to slow down and how do we make progress?How does one begin getting in touch with the intelligence of their heart? The benefits are out of this world...literally!Resources: Email link to episode...https://www.buzzsprout.com/859273/11716614Connect with Karin on her website at https://www.karintyden.se/en-GBConnect with Karin on Facebook https://www.facebook.com/yourmindnavigatorConnect with Karin on Instagram https://www.instagram.com/karintyden/Connect with Karin on LinkedIn https://www.linkedin.com/in/karintyden/Get your own copy of Karin's life-changing book, "Mind Hacking Rebels" at Amazon, Barnes & Noble and other fine book sellers. Alan's link to register to receive new podcasts and other updates: http://eepurl.com/g1DSf9 Link to tell us what podcast themes you'd like to see us cover: https://form.jotform.com/210597899275071 Sheri Sperry's website to connect with her, https://sellsedona.com/sedona-lifestyleCall to Action If you enjoyed this week's podcast episode, I would greatly appreciate it if you would rate and review it where you listen to your podcasts. Thank you! Sheri Sperry is YOUR SOLUTIONS REALTOR!A Realtor in Link to podcast website and all the podcast episodes https://discoveringandlivingthebestversionofyou.buzzsprout.com Link with Alan's Facebook Business Page at facebook.com/interviewswithheart/ Link with Alan's Instagram page at https://www.instagram.com/alanfreedman26/ Support the show (https://www.paypal.com/biz/fund?id=NYYG9FE928BF6)

Deep Light - Celebrating Sex: Oneness (Season 2 - Episode 28)

Deep Light

Play Episode Listen Later Nov 16, 2022 51:24

About the Episode: The nature of this topic may not be suitable for children so please take note of your environment prior to listening out loud! Join us for a series on sexuality, God's design and vision for sex for both married couples and single people, and the richness of experiencing oneness with God. Sex is one of God's special gifts for how we can really know and understand God's love for us. In this episode, Ruth and Stephen Meek discuss intimacy and oneness through the gift of sex and union. As quoted by Dr. Gary Barns, “The Big O of marriage is not Orgasm, it is Oneness.” About Our Guests: Ruth & Stephen have been married for 37 years, are parents of four, and grandparents of eight. Stephen was the fifth of nine children raised in a nominally Italian Catholic family that moved to a new city every few years due to his father's career. While Stephen had no interest in the things of God, God nonetheless pursued him by using Stephen's love of books. The Author of life God breathed spiritual life into Stephen at age 29 when he was reading the Book of Psalms, specifically Psalm 25. Soon after his conversion, Stephen married his still now love-of-his life Jonnie Ruth McLeod. His wedding ring is engraved with the words “Hearts knit together in Christ” alluding to Colossians 2:2. Stephen and Ruth had four children who are now adults and have started their own families. Stephen has spent his entire professional career in multifamily real estate, beginning with Marcus & Millichap in Palo Alto, CA, and since 2011 with StreetLights Residential as Senior Vice President of Development. In his real estate career, Stephen has experienced the honor of working with some of the greatest leaders in the industry and the excitement of taking part early in several newly formed “start-ups” such as The Staubach Company, Columbus Realty Trust, The Apartment Group, Rivendell Development, and StreetLights Residential. In his personal life, the list includes The Providence Christian School of Texas, The Cambridge School of Dallas, and Park Cities Presbyterian Church which Stephen would affirm all helped him and Ruth raise their children alongside other covenant parents and according to the truth of God's Word. Ruth is the founder of Redeeming Messages, a teaching/speaking ministry for Christian women in which her most requested topic is, Redeeming Shulamite, a message encouraging wives to elevate-not relegate-their marriage beds. To enhance her understanding of human sexuality, Ruth took a series of courses at Dallas Theological Seminary (DTS) on the subject. While a student there, Ruth became a part of The Institute for Sexual Wholeness (ISW) from which she earned the title, Sexual Educator. This credential qualifies Ruth to teach a series of spiritual, Sex Ed courses. The mission of ISW is To Create a Sexually Healthy Church. This has become Ruth's mission as well. Two quotes drive Ruth's desire to help break the church's code of silence about sex: “Sex is private not secret.” -Douglas Wilson and “God will hold us accountable for every permissible pleasure we ignore.” -The Talmud About Our Host:A graduate of Covenant Theological Seminary in St. Louis, Mark Davis came to PCPC as our Youth Pastor in 2003 and became our Senior Pastor in 2009. He and his bride, Kristina, met at a Young Life Camp in 1988 and have five amazing kids, Kara (and husband, Drew), Madalyn (and husband, Jack), Cayden, Esther Kate, & Samuel. Resources: Email us at DeepLight@pcpc.org or Call 214-224-2500 (music license ASLC-14EAD3E0-84F34F4276)

god jesus christ texas sex development psalm institute hearts colossians senior vice president oneness senior pastor orgasm palo alto sex ed book of psalms youth pastors big o mark davis douglas wilson millichap covenant theological seminary cambridge school resources email isw italian catholic pc pc to create deep light park cities presbyterian church

S-Corporation Tax Benefits: Why You Should Switch to an S-Corporation

Play Episode Listen Later Nov 15, 2022 49:34

Today's Tax Tuesday episode answers several listener questions on S-Corps vs. LLCs. Eliot Thomas hosts with special guest Jeff Webb, CFO of Anderson Business Advisors. Online we have some of the staff from Anderson – Dana, Dutch, Ian, Piao, and Troy here answering live chat questions. In this episode, you'll hear our advice on several scenarios regarding potentially switching from an LLC to an S-Corp and the likely tax benefits, along with several questions about purchasing property for your children to live in while they are attending school or just getting on their feet. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: “I have an LLC now for a small business, and I'm wondering what the benefits are of switching to an S-Corp and what the tax deduction benefits might be?”--- If it's an LLC, it's got liability protection. If it's not making a lot of money, (under $50K) – probably don't go the S-Corp route. “Can cost segregation depreciation be done on a property purchased one or two years earlier? If so, is it state-specific? Would it be a great option if that was a possibility with REP status?” You can go back in time and do the cost segregation. Let's say you bought the property in 2020. It's now 2022. You could do cost segregation. That depreciation from the cost segregation would appear on your 2022 return. If you do not have REP status or can't get REP status, normally cost segregation is not a great idea. “Is there a way to convert from a 401(k) to an IUL (Indexed Universal Life) or Roth without having to pay the high tax burden, or at least minimize the tax hit?” The problem is you are going to get a tax hit if you take 401(k) money and put it in an IUL. Anything you take out the 401(k), money's going to be taxed at ordinary rates. And if you're not 59½, you could be hit with a 10% penalty on top of it. “I'm a member of WREIN. I purchased a house and a condo in the past few months that two of my children currently live in. There is a mortgage and my soon-to-be daughter-in-law is on that with me. I pay the mortgage on the living costs, including tuition. Should I claim this home as a rental?” You can't just write a check or gift it and say, now I'm going to have them pay me rent back. The IRS has seen through that. That's a gift. It doesn't sound like they're paying anything so I see no rental here. “My son is 26 and in his second year of post-secondary education. The condo doesn't have a mortgage. I purchased it with funds from a private money lender in April that I have paid off with a HELOC from my primary residence. What would be the most advantageous way for me to claim this home, rent, and the best strategy? We've created a problem with our second home because we now have more than two private residences. Once again, I would probably deduct the HELOC as investment interest. Whichever one has the higher mortgage should be your second home. The next one would just be investment interest on an investment you own (the condo). And again, you can deduct the taxes on as many properties as you own. But again, you still have that $10,000 cap for state and local taxes. “Due to having two W-2s, I cannot qualify for real estate professional status nor can my partner. What is the best solution to minimize the tax bill coming at the end of the year? By the way, with both W-2s, I will be moving to a higher tax bracket that neither W-2 knows about. I will owe more taxes than they take out at the end of the year, unless I find some way to get my passive losses from depreciation available to lower my W-2 bill.” If you make $50,000 in each job, you're going to have a whole lot more taxes and probably going to be under-withheld because it's based on $50,000 on each job. REP status doesn't work. You could do a short-term rental. Be sure to adjust your W4s for two jobs/withholding. “I just moved to Arkansas and sold and purchased properties here in Arkansas through a 1031. How do we get taxed on the remaining amount that was not used as a 1031 replacement property? I reserved some of the money from the sale as I don't know what my tax bracket here is for taxation, and how much. I would be paying income tax. Can you give me an answer using the percentage of the sale?” Every dollar that you held back from the 1031 exchange is going to be taxed. And the first tax is going to be depreciation recapture, at a max of 25%. And the rest is capital gain at around 15%. “I'm interested in using an accountable plan. Can you differentiate between a home office deduction,” which is on Schedule A, I believe, “and requires an exclusive home office use, versus the administrative home office which appears not to need the exclusive use?” ‘Unreimbursed employee expenses' was eliminated at the end of 2017, so that doesn't work anymore. Your only choice (especially in an S-Corporation) is a reimbursement. “I'm not qualified as a REP (real estate professional) but with passive losses. Is there any way I can reduce my income with these losses and what can I do before this year is completed?” The only thing you can do with passive losses is offset them with a passive income, which effectively means you're not using your passive losses to reduce your income. Short-term rentals are not rental activity. “We have mainly W-2 income and also some investment properties passive. Our W-2 is too high to get tax deductions from its loss besides doing a short-term rental Airbnb. What are other ways we can deduct our W-2 income tax?” Max out those retirement contributions. Oil and gas is another still popular investment. There you have to have a working interest—that's very important—but it is a write-off that's substantially all of your investment for the most part. “We are about to apply for a HELOC. We do not own our home yet. My husband is the only moneymaker right now. We want to buy my daughter a mobile home. It's approximately $47,000. Our credit score is over 800.” I don't think this is a business, and I think wrapping an LLC around this property is a bad idea. But the daughter would have to be paying market rent. You would have to run it as a real business. Check out our events coming up later this month. Resources: Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/ Anderson Advisors https://andersonadvisors.com/ Anderson Advisors on YouTube https://www.youtube.com/channel/UCaL-wApuVYi2Va5dWzyTYVw

online llc airbnb switch arkansas dutch cfo irs corporations oil roth 50k llcs s corp heloc tax benefits s corporation iul resources email jeff webb anderson business advisors anderson advisors

How to Document Hours As A Real Estate Professional

Play Episode Listen Later Nov 1, 2022 57:22

Today's Tax Tuesday episode covers a variety of questions about short-term and long-term rentals, the IRS rules around those entities, and lots of tips and stories about how to report and document your time so as not to trigger an IRS audit. Toby Mathis hosts, with special guest Eliot Thomas from Anderson Advisors, and some of the staff from Anderson including Dana, Patty, Ander, Matthew, Dutch, Cindy, Trisha, Cristos, Piao - are all online today to help answer your questions. If you have a tax-related question for us, submit it to taxtuesday@andersonadvisors. Highlights/Topics: "For a 1031, does acquiring the beneficial interest of a land trust holding title to real estate qualify as replacement property? Same question, but an installment sale for the beneficial interest of a land trust." First question: When you look at the 26 USC 1031 and I want to say a to e, I believe, are the list of all of the exceptions, you'll see that the acquisition of a beneficial interest in a trust is one of the exceptions to being able to qualify for a 1031 exchange. Second question: What you can't do is go ‘no debt' to ‘debt'. "How can the IRS prove we as owners used our short-term rental for more than 14 days or 10% of rental rented days?" How can they prove it, dang it?" The reality is they probably can't unless they somehow got the ability to go out there, research, find out, bring it into court, and documents were produced, et cetera. The reality is they probably can't. But I would suggest that you'd be very honest. "My wife is the property manager of our small real estate portfolio. What is the best way to document the hours she spends on our business as we are claiming she is a full-time real estate professional to unlock the potential extra tax benefits."We hire professionals for plumbing, AC repair, and she handles items like semi-annual home inspections, painting AC filter, deliveries, all advertising, bookkeeping, et cetera. Thank you." Put the date, what the activity was, the amount of time you spent. I'm assuming this is a local property, kind of in your town area, put down the time you drove there, the time it took to drive back, the time on the phone calling, et cetera. Any of that, just document it in an Excel spreadsheet. Use MileIQ if you're tracking mileage, for example. It'll GPS you. It'll also tell you the times and everything along those lines if you want to track everything. "I have a Fidelity brokerage taxable mutual fund account. It is not a retirement account. The taxable account has two mutual funds inside. One is a diversified growth and the other is a more balanced 60-40," probably bonds. "I started investing in these accounts in 1992 and directed all dividends and capital gains to be reinvested in the same funds." So a drip. "On a positive note, the account has grown dramatically, but the bad news is that both funds have high costs associated with them, i.e., actively traded, high turnover, which drives up costs. I would like to somehow move the money to a more tax-efficient index stocks such as XLY, the Dividend Kings, Dow Diamonds, QQQ, S&P 500, VOO, et cetera. Will I be able to do so with no tax or minimal tax implications?" I think you'd have to sell and that is a taxable event. Now you're going to have to move it over. We might be able to do things to mitigate that around it—some lost positions or something like that—to offset that gain. But I don't know personally how you would be able to get that transferred over. So is there a way to avoid the tax on the capital gain? It's really hard. You could sell other assets that have capital losses and harvest some losses like maybe you have crypto. "After using accelerated depreciation on a new Airbnb this year, can I avoid future recapture in the case of a sale through a 1031 exchange? Can I exclude some nights when I stayed overnight on the Airbnb property for the purpose of improvement, say installation of the gutter guards by a company the next day? I had to be there to receive the furniture delivered, which I also had to unpack, move, and put in the right places." Yes-If it's used in trade or business, yes. "Can I take a primary home loan on a property that has been bought with 1031 exchange funds and live in the property myself?" Yes. But of course, there are rules behind it. I don't know that there's a fast and steady rule for how long you have. You have to use it after the 1031 in a trade or business. "How does the new corporate transparency law affect our LLC structures? Are you confident that Anderson can figure out a workaround to maintain anonymity? What are the good and bad takeaways from this new law?" Well, every LLC for our clients typically is going to be underneath this because it hits all small businesses. "Our family has Christian healthcare medical bill sharing. I'm always told this is not insurance. How does the IRS view this? Can it be deducted for Schedule A? Can it be used as an insurance deduction?" It is not insurance in the eyes of the IRS. It is just a group of people coming together and helping pay one another's medical claims and so that's why it is not insurance. Insurance is defined as something that can be deducted. This cannot be deducted. It cannot be used on Schedule A. It cannot be used as medical reimbursement. there is a proposal out there for regulation where the IRS is trying to change that. They're trying to get to this where this would be deductible. "My husband and I acquired a short-term rental this year and are hoping to close on a multi-family property for long-term rental by the end of the year. I am on track with REP status," that is real estate professional status for 2022. "We have come across several potential listings. However, requiring a gut down in major rehab. The likelihood of having this rental done and rented is slim by the end of the year. My question is if having the listing up and ready for rental is considered in service?" If it's someone just putting the listing up there, no. It has to be available for service. It is the status you're trying to get. That means that if you did put it up there, then I could move in there right now. You run the whole risk of needing asset protection if you do something like that.I'll have it available by the last week of the year. Does that allow me to take the deduction this year? The answer is yes.so you can talk to somebody like Eliot because you are dealing with two or three issues that are very fact specific that we don't want you to screw yourself up. Be sure to subscribe to our podcast. And if you are already a subscriber, please provide us a review of what you thought! Resources: Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/ Anderson Advisors https://andersonadvisors.com/ Anderson Advisors on YouTube https://www.youtube.com/channel/UCaL-wApuVYi2Va5dWzyTYVw

llc airbnb insurance dutch gps usc irs ac excel document eliot s p ander real estate professionals cristos voo qqq resources email anderson advisors

Show #39 - Nick Prefontaine

google master social class real estate phone new rules transaction amazon best selling prefontaine strategy call resources email

Play Episode Listen Later Oct 25, 2022 39:16

Welcome To The Real Estate Underground Show #39! Nick Prefontaine is an Amazon Best Selling author of The New Rules of Real Estate. He is also the co-host of the "Not Just a Transaction" podcast. "Not Just a Transaction" is a podcast that explores the many creative options available for buying or selling a home. Nick and their family team had helped hundreds of people buy and sell even when they thought it wasn't possible. Nick Prefontaine grew up in real estate and started at an early age. He was knocking on Pre-Forclosure doors at 16, doing 50 doors a day. These were people who didn't pay their mortgages. This experience helped shape Nick's real estate career. Now, Nick specializes in working with buyers to get them into a home and on the path to home ownership. Resources: Email: nick@smartrealestatecoach.com Free giveaway: Master's Class: www.smartrealestatecoach.com/mastersclass Strategy Call: www.smartrealestatecoach.com/action Book Request: http://wickedsmartbooks.com/underground Social media links: Website: http://nickprefontaine.com Website: http://www.smartrealestatecoach.com Podcast: https://www.smartrealestatecoach.com/podcast Facebook Page: https://www.facebook.com/smartrealestatecoach Google +: https://plus.google.com/+Smartrealestatecoachchannel Youtube: https://www.youtube.com/smartrealestatecoach Instagram: https://www.instagram.com/smartrealestatecoach LinkedIn: https://www.linkedin.com/in/nickprefontaine Twitter: https://twitter.com/smartrecoach Additional Resources: Website: www.clarkst.com Phone: (860) 675-5800 Social Media Facebook: www.facebook.com/ClarkStCapital Instagram: www.instagram.com/clarkstcapital Twitter: https://twitter.com/clarkstcapital1 LinkedIn: www.linkedin.com/company/clark-st-capital

Nicole Raftis, OT (Reg): OT in Equine Movement & Animal Assisted Therapy

The Uncommon OT Series

Play Episode Listen Later Oct 24, 2022 48:35

In this episode, we will learn about an occupational therapist who utilizes equine movement & animal-assisted therapy in her OT practice. Nicole Raftis, Registered Occupational Therapist, Manager for the Pathways Ponies Occupational Therapy program, ( graduated from Queen's University's School of Rehabilitation Science's Occupational Therapy Program and is a Registered OT in Guelph, Ontario, Canada. For the first 3 years of practice Nicole traveled and worked as an OT in 7 locations throughout the U.S.A and provided volunteer OT services in Guyana, Nepal, Thailand and India, taking in knowledge about the wide variety of roles OT's play in various settings as well as culturally sensitive and environmentally appropriate ways to support clients. Upon her return to Canada, Nicole has spent the majority of her 27 years of practice in pediatrics, initially working at Vancouver's Sunny Hill Health Center for Childern, on their Brain injury program, Autism Assessment Team and their Substance exposure team. Family brought Nicole to Ottawa where she provided school care services for a few years before taking her dream job at the Children's Hospital of Eastern Ontario, on the child and adolescent mental health units, gaining experience with psychotherapy and mental health practice. It was during her time in Ottawa that she got to experience the magic of pet therapy for the first time, helping to facilitate the sessions for kids experiencing significant emotional, sensory and behavior dysregulation. Aging parents inspired another move to Guelph, ON where Nicole has been working in private practice for the last 12 years. She continues to support children and teens to reach their full potential at home and school. The pandemic presented a unique opportunity for Nicole to become involved with a physical therapist who uses Equine movement and pet therapy to assist clients to reach their goals. Nicole was invited to develop an Occupational Therapy program at the barn and she has been thrilled to be a part of this initiative, integrating her mental health, sensory, motor and pet therapy experience to create a very holistic therapy program in a beautiful outdoor setting. Nicole has recently completed her American Hippotherapy Association Level 1 course and feels this latest adventure is a testament to the excitement and versatility that has been available over a 27-year career in Occupational Therapy. Nicole also mentors a number of younger OTs and supervises students from McMaster University. Her desire to share information and resources has led her to partner with other OTs in Guelph to create TREEO Occupational Therapy, an online library of courses and resources meant to support parents, teachers and OT's looking for pediatric resources. Their online platform launched in 2021 with their first course titled “Pandemic Parenting: Meaningful Tools for Health & Hope”. Their courses can be found at https://treeo-ot.thinkific.com My sincere apologies to my Canadian friends for my poor pronunciation of your provinces! Show Key Points:· Nicole gives us a glimpse of her background and interests· She describes her Uncommon OT work and whom she serves· She describes what inspired her to do this work and her path to entrepreneurship · She explains her holistic service and how it can benefit children· She provides OT practitioners an example of a typical session· She provides resources and her contact information RESOURCES: Email nicoleraftis@gmail.com IG @nicoleraftis.ot Check out my website www.nicoleraftis.ca https://treeo-ot.thinkific.com/courses/pandemic-parenting-burnout-meaningful-tools-for-health-hope Mims,D. & Waddell, R. (2016) Animal Assisted Therapy and Trauma Survivors. Evid Inf Soc Work. Sept-Oct 2016 13 (5). Young, C. & Horton, J. (2019). Canine and Equine Therapy for Mental Health: A Review of Clinical Effectiveness. Ottawa (ON): Canadian Agency for Drug & Technologies in Health 2019 August.As always, I welcome any feedback & ideas from all of you or if you are interested in being a guest on future episodes, please do not hesitate to contact Patricia Motus at transitionsot@gmail.com or DM via Instagram @transitionsot THANK YOU for LISTENING, FOLLOWING, DOWNLOADING, RATING, REVIEWING & SHARING “The Uncommon OT Series” Podcast with all your OTP friends and colleagues! Full Episodes and Q & A only available at: https://www.wholistic-transitions.com/the-uncommon-ot-seriesSign Up NOW for the Transitions OT Email List to Receive the FREE Updated List of Uncommon OT Practice Settingshttps://www.wholistic-transitions.com/transitionsot For Non-Traditional OT Practice Mentorship w/ Patricia: https://docs.google.com/forms/d/e/1FAIpQLSeC3vI5OnK3mLrCXACEex-5ReO8uUVPo1EUXIi8FKO-FCfoEg/viewformHappy Listening Friends!Big OT Love!All views are mine and guests own.Be a Patron to support The Uncommon OT Series Podcast project via Patreon.

Bookkeeping For Real Estate Investors

Play Episode Listen Later Oct 18, 2022 56:49

Today's Tax Tuesday episode is focused on bookkeeping. Toby Mathis hosts with special guest Troy Butler, Executive Manager of our bookkeeping department at Anderson Advisors, and some of the bookkeeping staff from Anderson including Patty, Ander, Matthew, Eliot, Dana, Trisha, Blanca, Landsey, Kiera, and Cindy, are all online today to help answer your questions. You'll hear our advice on things like what bookkeeping software to use, expense reimbursement and mileage, grouping your businesses using “classes,” and even some detailed information on how you can become an Anderson Advisors client and the services you'll have access to. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: If I request an EIN so I can open up a bank account for my disregarded single member LLC, do I have to file a tax return or can I somehow inform the IRS the EIN is for a disregarded entity? – Any EIN should be on “a” tax return, but doesn't have to have it's own return. If I paid for something on behalf of my C-corp and it didn't have enough funds to reimburse me, how do I account for it? – First of all, if you paid for something on behalf of your corporation, I would make sure that I'm submitting a reimbursement sheet. I would do that monthly where I'm putting together everything I paid for personally, putting it on a sheet, and submitting that to my company for reimbursement. Step 1 - Do it monthly or quarterly. Step 2 - You can have a revolving line of credit.If it's an IOU, it's a loan. It's a liability of the company. It would be an asset to you as the shareholder. What is the best way to record, handle reimbursement for business expenses that were charged on the owner's personal credit card to avoid giving the IRS concerns about the legitimacy of the business?" – Again, you would want to submit those charges that were business related on a reimbursement sheet. What you don't want to do is you don't want to put that credit card that's in my personal name on your company's books. That can be looked at as co-mingling. It's a business expense that you're getting reimbursed for. Can I deduct other courses I take that are general business-type classes, not specific to real estate investing, and if they are for the purpose of helping me build my business? – General business if it's you're improving your current lines of business. I don't see an issue with that. What is the smartest tax advantage way to pay the kids for helping the S-corp? Can I reimburse myself for the payments I have made to them from my personal account? – There are a couple of options here. I am a believer in payroll. The reason for that is if they're on payroll, if they make less than the standard deduction as employees, they're not required to file a tax return. You can also pay them by putting money in their Roth - they'll never pay tax, or do a 1099. How do I not pay taxes at the end of the year?- This is what everyone wants to know!! My reply is, either don't make any money, live on borrowed money, have someone else make the money, or buy real estate as a real estate professional which unlocks passive losses. I have a three-member LLC taxed as a partnership. The members want to take a distribution each of $100,000. How is that taxed and how is it recorded in the books? – That's not a taxable event. It's a distribution. That's an equity transaction. The $100,000 is not a taxable event. The taxable event is the numbers that come on that K-1 and say, you made profit of “X” or you made loss of “X”. How does the Anderson bookkeeping service integrate with the accounting service, et cetera? – We work very closely between teams! …we have full service monthly, or quarterly “virtual” service that uses QuickBooks. Virtual bookkeeping is $995 for a year for the first set of books and then $495 for each additional set of books. Can you please discuss some big-picture strategies to help with bookkeeping automation, AI, we should be considering? Botkeeper is one AI we've learned about. They can't do complex things. It's much cheaper to use a human being right now. Maybe that changes at some point. What is the best way to keep track of miles? MileIQ is an app, it works well and creates good reports. There is also a function within QuickBooks works reasonably well. And Timr is easy to use, but it is $100 a year Best software for doing bookkeeping? There are thousands, and thousands, and thousands of accounting softwares out there. Most of them do a pretty good job. We use QuickBooks online for all Anderson clients. I'm trying to figure out how to property log and transfer friends from the property LLC to the holding LLC and vice versa. (1) how to capture my personal mortgage loan into the property LLC and then to the holding LLC? – It's an investment expense that I'm going to show on my Schedule E, which is going to allow me to take that deduction against my rental income if it's real estate. (2) how to record all transactions from the property LLCs throughout the year and distribute to the holding LLC for tax filing. –Like Toby's saying, for each tax return that you file, you need a set of books. But if you have entities that are disregarded to a holding company, they can be within one set of books. If you have 10 properties, you're going to have 10 classes on one set of books, and it's all going to flow up. Platinum members: Log on to our bookkeeping office hours, Thursdays, 3:00 Pacific Standard Time. We're live and answering all your bookkeeping questions! Resources: Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/ Anderson Advisors https://andersonadvisors.com/ Anderson Advisors on YouTube https://www.youtube.com/channel/UCaL-wApuVYi2Va5dWzyTYVw

ai virtual llc irs roth platinum real estate investors log eliot bookkeeping quickbooks llcs ander iou executive manager resources email mileiq botkeeper schedule e anderson advisors

Show #37 - Sam Eddinger

phone connecticut resources email

Play Episode Listen Later Oct 11, 2022 36:15

Welcome To The Real Estate Underground Show #37! Sam Eddinger has been involved in real estate from a young age, helping his mother and father maintain their real estate properties. Sam witnessed firsthand how investing in real estate with a long time horizon can build wealth. Sam saw an opportunity with the real estate market near a bottom in 2012 and started aggressively buying real estate in central Connecticut. In 2018, after 15 years as a nuclear engineer, he surprised his coworkers and managers by leaving his desk job to start Ironclad Property Management. Because of his experience in engineering, Sam brings a data analysis and process-based approach to property management. Because of his experience as an investor, Sam works to help each client improve their investment rate of return. Resources: Email: sam@ironcladpm.com Phone: (860) 254-7343 Additional Resources: Website: www.clarkst.com Phone: (860) 675-5800 Social Media Facebook: www.facebook.com/ClarkStCapital Instagram: www.instagram.com/clarkstcapital Twitter: https://twitter.com/clarkstcapital1 LinkedIn: www.linkedin.com/company/clark-st-capital

Show #35 - Jacob Vanderslice

united states phone principal uncovering vanderslice resources email

Play Episode Listen Later Sep 27, 2022 25:58

Welcome To The Real Estate Underground Show #35! Jacob Vanderslice is a Principal at VanWest Partners, A Denver-based real estate investment firm focusing on acquiring and managing self-storage centers and other opportunistic real estates throughout the United States. VanWest has established a track record with over $195mm in real estate assets by focusing on this conservative and growing real estate sector. A commitment drives Jacob and his partners' success in delivering an expertly-executed, adaptable strategy with an institutional investment approach. The diverse background of VanWest's principals allows the company to look at investments outside many companies' traditional, single-focus strategy. Uncovering value when the value is not apparent allows Jacob and his team to maximize investment performance for their stakeholders. Jacob is passionate about educating investors about self-storage, urban infill repositioning, redevelopment of distressed commercial assets, and other untraditional investment opportunities. He focuses on investments driven by date and reveals and maximizes opportunities to make a positive and lasting impact in the lives of his clients and investors. Resources: Email: jacob@vanwestpartners.com Website: vanwestpartners.com LinkedIn: Jacob Vanderslice Additional Resources: Website: www.clarkst.com Phone: (860) 675-5800 Social Media Facebook: www.facebook.com/ClarkStCapital Instagram: www.instagram.com/clarkstcapital Twitter: https://twitter.com/clarkstcapital1 LinkedIn: www.linkedin.com/company/clark-st-capital

How to Refinance Investment Properties Inside LLCs

Play Episode Listen Later Sep 20, 2022 65:10

Several of today's tax questions are related to STRs (Short-term rentals) like Airbnb and VRBO. Toby Mathis and Jeff Webb of Anderson Advisors discuss the differences between passive or active income on these popular investment properties, and answer additional tax-related questions. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: Investing in multiple family syndications - I think when you make an aggregation election, you're electing to treat all your rental activities as one activity Setting up ongoing support for 501(c)(3) organizations that support the advancement of religion - Make it a private foundation. Spell out your values and then say, here are the organizations that I believe meet that at this time- but understand how wildly society and religion might change over time Short-term rentals/hotel syndications - active or passive income? Unless you're an employee like the general manager of the investment property, you're passive. This is not a rental activity, period. Hotel syndication or short-term rental, just remove the ‘rental' and it's a regular business A real estate investor pays almost no taxes, but her husband is a 1099 contractor with a huge tax burden. Should they put some properties in his name? If you're filing jointly, it won't matter. You could also donate a property for a community service/non profit to get the deduction of the full market value There are still actions you can take if you're getting killed on 2021 taxes, the clock has not stopped on 2021yet! Resources: Email us at Tax Tuesday taxtuesday@andersonadvisors.com Get Clint Coons' Book https://www.amazon.com/Next-Level-Estate-Asset-Protection/dp/1950863883 Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/ Anderson Advisors https://andersonadvisors.com/ Anderson Advisors on YouTube https://www.youtube.com/channel/UCaL-wApuVYi2Va5dWzyTYVw

hotels airbnb spell llcs refinance vrbo investment properties resources email jeff webb anderson advisors

Show #31 - Bob Lachance